Patrick Frater Asia Bureau ChiefRising Chinese-Singapore entertainment group GHY Culture & Media is to acquire majority control of independent Singapore film distributor Clover Films.
The move was described as a “strategic investment” and leaves current management in charge of operations at Clover.Stock market-listed GHY is to buy 51% of the shares of privately-owned Clover, but it did not reveal a valuation.
GHY said that the acquisition is part of its growth strategy and “enhances its geographical footprint in Singapore and Southeast Asia.”Clover Films was founded in 20009 and operates as a distributor in Singapore and neighboring Malaysia.
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