GIC, PIF invest $924m in Korea's Kakao Entertainment
Singapore’s GIC and Saudi Arabia’s Public Investment Fund (PIF) have agreed to invest a combined KRW 1.15trn (USD 924m) in Korean internet giant Kakao’s entertainment division.
Kakao said in a filing that it would issue 4.52m new shares to entities controlled by the two investors. The proceeds will be used for operating purposes and to M&A and investment in new business lines....
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