Future Investment Holdings, a wholly owned subsidiary of Food Empire Holdings, is investing US$12.24 million into a joint venture with Sweet Blossom Holdings, a wholly-owned subsidiary of Eastern Valley Group Limited, to form the joint venture company, Hallyu Venture in Singapore for the purpose of investing in food and beverage companies in Korea and the surrounding region, according to The Edge.

 

Future Investments will hold a 51% stake in Hallyu, while Sweet Blossom will hold a 49% stake, structured through the subscription of ordinary shares or advancement of loans to Hallyu of up to US$24 million, which will be achieved through two tranches, reports the Business Times.

 

Future Investment Holdings first investment in Hallyu Ventures will be approximately US$7.3 million which is expected to be sourced from cash on hand and bank loans, while Sweet Blossom’s first investment will equal approximately US$7.1 million.