South Korean tech major Kakao acquires 40% stake in K-Pop agency SM Entertainment

SM Entertainment Co

28/03/2023 05:31

SEOUL, March 28 (Reuters) - South Korea's Kakao Corp
 035720.KS  and affiliate Kakao Entertainment have acquired a
40% stake in K-Pop agency SM Entertainment  041510.KQ , the
agency said on Tuesday. 
    It included the acquisition of a 35% stake through a tender
offer, the agency said in a regulatory filing.
    

 (Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)
 ((joyce.lee@tr.com;))