Thailand’s Index Creative Village expects new partner in June

Brand image from the company website

Thai conglomerate  Index Creative Village expects to seal the deal with the right partner who will acquire half of the company’s share from GMM Grammy by the end of June.

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.

Also read:

Grammy sells its stake in SE-ED to Wuttipoom

WAVE acquires Jeffer Steak for $18m

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.