nme.com
04.08.2021 / 13:53
Kakao and CJ Group both looking to purchase controlling stake in SM Entertainment
SM Entertainment.According to a report by The Korea Economic Daily, CJ Group has proposed a price of ₩300billion (approximately £188million) for a 18.75 per cent controlling stake in SM Entertainment, home to popular K-pop acts such as Red Velvet, NCT, EXO, Girls’ Generation and more.CJ Group’s bid for the shares of SM Entertainment puts them in a race with some of South Korea’s biggest corporations, including Kakao Corp, which had previously proposed a premium of over 70 per cent for the