SGX-listed Spackman Entertainment to acquire talent firm Constellation Agency for $12.3m

SGX-listed Spackman Entertainment to acquire talent firm Constellation Agency for $12.3m

Photo by Jakob Owens on Unsplash

South Korea’s Spackman Entertainment Group Limited has agreed to acquire the entire issued and paid-up share capital of talent firm Constellation Agency for S$16.6 million ($12.3 million).

According to the share purchase agreement, Spackman will issue about 144.8 million new shares at S$0.115 apiece. The purchase consideration takes into account Constellation’s unaudited net profit of $1.2 million, and its unaudited net asset value of $3.6 million for the period from the date of its incorporation to 30 November 2017, Spackman said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter