StarHub acquires 9% stake in MM2 Asia for SGD 18 mln

Singapore operator StarHub has acquired a 9.05 percent stake in film and TV content producer MM2 Asia for SGD 18.04 million. StarHub will collaborate with MM2 to expand and differentiate its pay TV offerings through original content creation. In addition, StarHub can leverage MM2’s regional presence to market and distribute its own localised content beyond Singapore.

StarHub has agreed to subscribe for an aggregate of 44,000,000 new ordinary shares in the capital of MM2, by way of a private placement. The aggregate consideration for the placement shares is SGD 18.04 million. The price per placement share is SGD 0.41.