Kakao to acquire a 9% stake in SM Entertainment for $173m.

Synopsis

Kakao, a South Korean internet company, agreed to acquire a 9% stake in SM Entertainment, a multinational entertainment agency, for $173m. “We hope to work together in competing in the heavily contested global music and content market through this investment,” Bae Jae-hyun, Kakao Chief Investment Officer.

Principals

target

Sm Entertainment

bidder

Kakao Corp

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Market Context

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Seller Team (1)

lee sung-soo

CEO at SM ENTERTAINMENT

Manager

target

Deals

£ 943 M

Total Value

Bidder Team (1)

bae jae-hyun

Chief Investment Officer at KAKAO CORP

Manager

bidder

Deals

£ 943 M

Total Value

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