NIP Group (NIPG), a digital entertainment company, said Tuesday that it has agreed to acquire Wuhan Young Will, a talent management company, for a consideration starting at 23.2 million Chinese renminbi ($3.3 million) worth of shares.
NIP said the initial consideration will be in exchange for a 61% stake in the parent company controlling Young Will, ZSZQ.
NIP said it will later acquire an additional 13% stake annually from 2025 through 2027, after which the deal is slated to be completed.
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