YG and LVMH are also said to be in talks to create a strategic partnership, said YG head of investor relations Eai-Jin Song, speaking to Reuters.
LVMH-backed L Capital Asia will invest $60 million in new preferred shares of YG and is in talks to buy another $20 million in shares from Yang Hyun-suk, who founded the company and is its largest shareholder, according to a regulatory filing.
The deal will make LCapital the second-largest shareholder of YG.
L Capital made a strategic investment in Chinese cosmetics company Guangdong Marubi Biological Technology Stock Co in July last year.
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