It’s a bid to improve its Southeast Asia, North Asia presence.
mm2 Asia is planning to snap up a 51% stake in show promotion and organising firm Unusual Group of Companies for $26m.
According to mm2 Asia’s media release, the deal is subject to various conditions precedent, such as that net profit after tax of Unusual—stylised as UnUsUal—for FY15 not be less than $4m.
mm2 Asia notes that the majority stake acquisition is strategic for the company’s development into a leading entertainment group in Asia by leveraging onto Unusual’s capabilities in organising events, as well as their expertise in providing solutions to production work.
“With Unusual, mm2 is poised to be the largest entertainment group in Singapore with business activities that will be synergistic to each other in many respects. This will enable us to better project our presence in the greater Southeast Asia and North Asia's market place,” stated mm2 Asia CEO Melvin Ang.
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