GHY Culture & Media Holding Co (GHY) has entered into a non-binding memorandum of understanding (MOU) with the shareholders of the Clover Films Group in relation to a strategic investment in the group.

The proposed investment will see GHY acquiring a 51% stake in each of Clover Films’ three subsidiaries. The existing shareholders, Lim Teck and Paulyn Chua Nga-Lim, will retain a 49% interest in each of the entities.

No details on the potential deal value were disclosed.

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