If the deal fails, the company’s co-CEO Kriangkrai Kanjanapokin said that he would probably buy up the remaining shares, which GMM proposes to sell for 1 billion baht.
“We are in talk with our preferred partner and, hopefully, the deal will be approved by the end of this month,” he said.
He declined to reveal the name of the new partner, but there was a rumour saying that Wave Entertainment was one of the preferred candidates. However, executives at Wave Entertainment refused to comment on it.
Once the deal is completed, or he takes over the entire stake, the company will continue its investment in domestic and overseas particularly in Myanmar.
The co-CEO cited that it would like to strengthen hospitality and cultural-related businesses in Myanmar apart from its main business of event organising.
GMM Grammy has recently decided to divest its 50-per-cent stake in Index Creative Village because it would like to focus on its core businesses- including music, TV programmes and digital television channels.
GMM also sold its stake in SE-Education, Post Publishing, Matichon as well as its magazine business.