Elektromotive seeking to acquire entertainment firm
It plans to take 63.13% stake in South Korea-incorporated Dream T Entertainment for S$22.7m in cash or shares
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Singapore
ELEKTROMOTIVE Group is looking to transform itself into an entertainment company, moving away from its under-performing electric vehicle charging equipment business.
It plans to acquire 63.13 per cent of South Korea-incorporated artiste management company Dream T Entertainment for S$22.7 million, payable in cash or shares, expected to be completed in the second quarter of next year. The acquisition will also see the Catalist-listed firm changing its name to Arion Entertainment Singapore, pending an extraordinary general meeting on Friday.
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