Louis Vuitton Seeking $100 Million Investment in YG Entertainment
Korean record label and talent agency YG Entertainment is reportedly in negotiations with LVMH Moët Hennessy over a large private equity fund investment worth 100 billion won (approximately $100 million USD). The two sides have been in negotiations since June but have not been able to reach an agreement yet. However, this speculation has already resulted in a 15% increase in YG Entertainment’s share price from 40,550 KRW (approximately $39 USD) to 46,600 KRW (approximately $45 USD). When YG Entertainment was asked by the Korea Exchange for a public announcement regarding this investment, the agency replied, “We received offers for investment and business collaboration from a third-party, so we are in the midst of reviewing the attraction of investment including capital increase by issuing new stocks and allotment to the third-party. We have not yet decided on anything. We will release full disclosure once we’ve reached a concrete conclusion within a month.” Stay tuned for more information on this deal.