Kakao to acquire a 35% stake in SM Entertainment for $962m.

Synopsis

Kakao, a South Korean internet company, agreed to acquire a 35% stake in SM Entertainment, a multinational entertainment agency, for $962m. "Kakao decided it is inevitable to secure the largest shareholder position to protect the partnership with SM Entertainment," Kakao.

Principals

target

Sm Entertainment

bidder

Kakao Corp

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