YG Entertainment, music entertainment company for PSY, BIGBANG and 2NE1, received a US$80 million investment contract with L Capital Asia today to assist YG in nurturing new businesses such as cosmetics and fashion products in Korea and globally. L Capital Asia is the Asian private equity firm sponsored by LVMH Moet Hennessy Louis Vuition S.A., which has the expertise in this field to market YG’s merchandise to the world.
The investment includes a redeemable convertible preference shares tranche of US$60 million, with proceeds to be deployed to pursue strategic acquisition opportunities in Korea and globally to augment YG’s core entertainment business.
At The Ritz-Carlton Millenia Singapore this afternoon, YG Entertainment Chairman Yang Hyun Suk and Chairman & Managing Partner of L Capital Asia Ravi Thakran signed the contract in front of YG Family artistes G Dragon (BIGBANG), CL (2NE1) and new pop group Winner. The YG Entertainment entourage are in town for YG Family Concert over this weekend. Singapore is the only stop for the YG Family Concert Tour in South East Asia, where PSY, BIGBANG, 2NE1, Epik High and WINNER will be performing at Singapore Indoor Stadium for two concerts on Saturday and Sunday.
At the YG Family 2014 Family GALAXY Tour: POWER in Singapore press conference the night before, BIGBANG, 2NE1, Epik High and WINNER were having a fun time taking selfies using the latest range of Samsung GALAXY smartphones.
