
Affinity pays $239m for majority stake in Korean music platform
Affinity Equity Partners will pay KRW265.9 billion ($239 million) for a 52.6% stake in Loen Entertainment, a South Korean record label and digital music platform. The holding is being divested by SK Planet, a subsidiary of SK Telecom, the country's largest mobile operator.
Star Invest Holdings, a vehicle controlled by Affinity, will buy approximately 13.3 million shares in Loen for KRW20,000 apiece. As a result, SK Planet's interest in the company will fall to 15%. Star...
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