Kuke announces purchase terms with naxos one

Beijing, may 24, 2024 (globe newswire) -- kuke music holdings limited (“kuke” or the “company”) (nyse: kuke), the leading classical music service platform in china, is pleased to announce that on may 24, 2024, it has signed a non-binding term sheet (the “term sheet”) with naxos one holding limited (“naxos one”), a limited liability company incorporated under the laws of the british virgin islands. the term sheet contemplates that kuke will acquire a majority stake in two of the controlled subsidiaries of naxos one, angelina assets limited and hnh international limited, the holding companies of the naxos music group, a world-leading classical music brand and one of the largest distributors of independent classical record labels in the world (the “naxos group”). a director of kuke is the controlling shareholder of naxos one.
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