Koreaboo
3 minutes ago
A Japan-based investment group is reportedly planning to acquire shares in JYP Entertainment.
On October 26th, YTN reported that The NEXROC Group and SVCV are reviewing procedures to acquire shares in JYP Entertainment, aiming to start a public tender offer on November 20.
According to the report, the shares targeted for acquisition by the two companies range from 25% to 50% of JYP Entertainment’s issued stock. This exceeds the roughly 15% stake held by Park Jin Young (also known as J.Y. Park), Chief Creative Officer (CCO), and related parties combined.
The two companies are said to have privately submitted letters of intent to JYP Entertainment before the public tender offer and plan to negotiate for 30 days. If negotiations fail, they will decide whether to proceed with the public tender offer and the specific conditions.
The media analyzed that the two companies aim to expand their investment portfolio in Asia’s culture and entertainment sector through acquiring JYP Entertainment.
In response, JYP Entertainment told Ilgan Sports that they are “checking” the matter.