GRAMMY Expects to Acquire 0.79% of KISS after Establishing a JV to Ramp Up Sales Revenue
GRAMMY joined KISS in establishing O2 KISS to strengthen cosmetic and food supplement businesses, expecting to acquire 0.79% of KISS' shares.
GMM Grammy Public Company Limited (GRAMMY) joined Rojukiss International Public Company Limited (KISS) in establishing O2 KISS Co., Ltd. (O2 KISS) with a registered capital of 50 million baht to strengthen cosmetic and food supplement businesses while expecting to exercise the right to purchase 0.79% of KISS’ shares.
GRAMMY made an announcement regarding the right to purchase shares of Rojukiss International Public Company Limited (KISS) with condition and asset acquisition transaction in case of Joint Venture (JV) Establishment between O Shopping Company Limited (O Shopping), a subsidiary of GRAMMY, and KISS, which is a relevant transaction to the asset acquisition transaction in case of the company’s consideration to exercise the right to purchase KISS’s shares, with the transaction size of 0.79 percent based on the total value of consideration criteria.
The objective of O2 KISS is for operations procurement, selling wholesale and / or retail, marketing and sales promotion for cosmetic products, cosmeceuticals and food supplements.
