LVMH (Louis Vuitton) Invests 61 Billion Won in YG Entertainment
Bridging the fashion and Kpop worlds together, YG Entertainment and fashion brand Louis Vuitton have held hands.
On August 20, YG Entertainment announced that the company has received an investment from Louis Vuitton Moet Hennessy (LVMH)′s private equity fund group, L Capital Asia.
YG Entertainment explained that in order to obtain the working funds of 61.5 billion won, it will issue new stocks to increase capital for L Capital Asia.
For future development and business advancements, YG Entertainment decided to issue new stocks to increase its capital.
The issued stocks equal to 1,359,699 preferred shares, which is priced at 44,000 won each, and amounts to a 8.3 percent equity stake in YG Entertainment.
As the private equity fund of LVMH, L Capital Asia mostly invests in companies in Asia.
Photo Credit: Newsen
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