Kuke Music Holding Limited Acquires Controlling Interest In Naxos Music Group

/by

Kuke Music Holding Limited, a classical music services platform in China, has acquired a controlling interest in Naxos Music Group, one of the world’s largest independent classical music companies. Naxos Music Group is based in Nashville and is the label of The Nashville Symphony.

Under the terms of the agreement, Kuke acquired a controlling interest in Naxos Music Group through two transactions involving Naxos One Holding Limited (“Naxos One”) and Desun Holding Limited (“Desun”), one of the two existing shareholders of Naxos One.

Kuke firstly subscribed for 17,500 newly issued Class B ordinary shares of Naxos One for a total worth of US$105 million. Kuke secondly acquired 108 Class A ordinary shares of Naxos One from Desun, which automatically converted into 108 Class B ordinary shares of Naxos One upon transfer for a total of $1.35 million. The deal was settled entirely through the issuance of Kuke’s Class A ordinary shares as consideration.

“This strategic acquisition of Naxos Music Group represents a landmark transaction that will significantly enhance our position as a leading classical music services platform,” says Peixian Tan, Chairman and Chief Executive Officer of Kuke. “Naxos’s world-class content library, combined with its proven global distribution capabilities, creates compelling synergies with our existing music education and technology platforms.”

Lauryn Sink
Latest posts by Lauryn Sink (see all)