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K Wave Media Signs LOI to Acquire Controlling Stake in South Korean Semiconductor-Materials Firm

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K Wave Media (KWM) said Tuesday it has signed an exclusive letter of intent to acquire a controlling interest of 50% plus one share in a privately held South Korean semiconductor-materials firm.

The target firm is a developer and manufacturer of advanced materials and specialty chemicals used in the production of semiconductors and electronic components, K Wave said.

Financial terms of the potential acquisition were not provided.

The parties expect to complete due diligence over the next four weeks and execute a share purchase agreement by the end of August, aiming to close the transaction by the end of October, according to a statement.

Price: $2.06, Change: $-0.96, Percent Change: -31.79%

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