Singapore-based e-commerce platform YuuZoo on Monday made the first of three planned investments to purchase Ryan Kavanaugh’s Relativity Studios.
According to a filing at the Singapore stock exchange, YuuZoo willย invest $50 million for a one-third stake in Relativity Studios.
It’s the first of three investments in a deal worth upย to $300 million, according to an individual close to the deal, and will give the Asian company majority control of Ryan Kavanaugh’s 12-year-old company which emerged from bankruptcy last March.
As TheWrap reported exclusively last week, the deal is subject to regulatory approval.
The insider said the YuuZoo acquisitionย would be structured as follows: a first tranche of $50 million at a $150 million valuation; a second tranche of $50 million at a $200 million valuation, triggered after six months and subject to regulatory approval; and an option for a third tranche of $100 million at a $200ย million valuation at 12 months from the original investment — giving the company a post-investment valuation of $300 million.