Casta Diva Group (CDG: IM), is a multinational company listed on AIM Italia, active in the field of communication. Today it has signed an agreement with Shanghai Red Horse Advertising Media Co., Ltd. for the formation of Joint Venture Casta Diva China Co., Ltd.. Joint Venture will capture China’s great market potential by combining the strong positioning of Shanghai Red Horse Advertising Media Co., Ltd. and the extensive international network of Casta Diva Group SpA.
Casta Diva China Co., Ltd. will be headquartered in Shanghai and be 50.1% owned by Casta Diva Group SpA and 49.9% owned by Shanghai Red Horse Advertising Media Co., Ltd.. The formation is expected to happen by the end of the year, in accordance with the timing of Chinese legislation. The transaction will cost Casta Diva Group an investment of $ 50,100. With regard to Governance, the Board of Directors will consist of 3 members, 2 of which from Shanghai Red Horse Advertising Media Co., Ltd. and 1 from Casta Diva Group, in the person of Luca Oddo. No put and call options were provided under the agreement.
Shanghai Red Horse Advertising Media Co., Ltd., is listed on the stock market National Equities Exchange, billing about $ 7.5 million consolidated through 4 business units: advertising production, rental of technical material, celebrity rights management and feature films.
It has customers like Oppo (one of the leading manufacturers of electronic and mobile phone products in China and Asia), Coca Cola, Alibaba and other top international clients.
Andrea de Micheli, CEO and Luca Oddo, President: “The new headquarters in China breaks interesting new ground also for the continued expansion of Chinese business outside national boundaries and vice versa. With Casta Diva Group Network we can take advantage of all our potential to accompany and support our customers with their business, not only in China but also in Korea and Hong Kong.”