Shinsegae International is planing to sign a memorandum of understanding (MOU) on merger and acquisition (M&A) of VIDI VICI and acquire a 70 percent stake in the brand.
The acquisition will be completed by early April if the deal goes smoothly. The company plans to tap into the Asian market at the early stage of the business. After VIDI VICI’s brand awareness is strengthened in the Asian market, Shinsegae will consider entering into the global market such as the European and US markets.
Source: MK News
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