August 21, 2014 / 12:10 AM / 3 years ago

YG Ent shares up 12 pct after LVMH fund's investment plan

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SEOUL, Aug 21 (Reuters) - Shares in YG Entertainment Inc rose as much as 12 percent on Thursday, after the South Korean company that manages rapper Psy said the private equity arm of French luxury goods giant LVMH will invest up to $80 million.

L. Capital Asia will invest 61 billion won ($60 million) in new preferred shares of YG and is in talks to buy another $20 million in shares from YG's largest shareholder, according to a YG filing on Wednesday. (Reporting by Joyce Lee; Editing by Paul Tait)

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