Spackman Entertainment, a company listed in Singapore with a collection of Korean-themed investments, said that it has received a takeover offer for its Zip Cinema subsidiary, one of Korea’s leadin…
In a regulatory filing, Spackman said that a non-binding letter of intent was delivered by Charm Accounting Corporation. Charm in turn is acting on behalf of an undisclosed “content production company listed in Korea.” It is not clear whether Zip’s management supports the bid.
Spackman explains that it has not yet held talks with Charm, which wants to come to an agreement by the end of the year. The value of Charm’s bid has not been disclosed, and Spackman says that it now intends to explore other “strategic alternatives for this major asset.”
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