Pico Far East Holdings (HK:0752) has released an update.
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Pico Far East Holdings announces the exercise of a put option by Chad Michael Tons, selling his remaining 40% stake in Infinity Marketing Team to Pico North America, making it an indirect wholly-owned subsidiary of the Hong Kong-based company. The deal, valued at approximately US$30 million, is expected to be paid in cash based on a pre-agreed formula involving average EBITDA and other financial metrics. This strategic move enhances Pico Far East Holdings’ brand activation services across various sectors, including exhibitions, events, and themed entertainment.
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