BANGKOK – Anne Jakkaphong Jakrajutatip, along with Mexican entrepreneur Raul Rocha Cantu, has published a press release to clarify that their company will be a strategic partnership or co-owner 50:50 of the Miss Universe Organization.
A Thai leading transgender businesswoman has struggled to deal with the financial crisis of JKN Global since September last year, when it faced a crisis for failing to repay a 609 million baht stock loan. She and her sister were forced to sell their shares many times.
In November, JKN filed a petition for business rehabilitation, proceeding to the Thai Bankruptcy Court.
After rumours of bankruptcy and selling Miss Universe Organization, JKN Global Group Public Company Limited issued a statement on January 23, 2024, to inform the Stock Exchange of Thailand that it has sold ordinary shares in JKN Legacy Inc, an entity operating the Miss Universe Organization (MUO) and owning the copyright of the Miss Universe Brand, to Legacy Holding Group USA Inc (LHG).
It sold in the amount of 500 shares, representing 50 percent of total issued shares in JKN Legacy, at the total transaction value of USD 16,000,000 (approximately THB 581,920,000)
The objective is to enhance and strengthen the capabilities of MUO, including financial readiness from capital sources received from LHG. LHG is also considered a significant global strategic partner which can leverage its collective experience and expertise to drive the Miss Universe business towards premium products and services with excellence.
Their focus will be on Brand Management and Talent Development for artists and beauty contestants. Regarding the responsibilities and duties of managing the Miss Universe Organization (MUO), the Company and LHG have divided the responsibilities based on geographical areas, outlined as follows:
1. LHG’s main office in Mexico will be responsible for the North America and South America regions.
2. The JKN’s main office in Thailand will be responsible for the Asia region and all other remaining countries.
In addition, JKN and LHG have agreed to appoint and allocate executive-level employees with knowledge, skills, and experience to manage the operations at the main office of JKN Legacy in New York.
It is also noted that following the disposal of investment in subsidiaries, JKN Global Content will still hold 500 shares in JKN Legacy, representing 50 percent of the total shares in JKN Legacy.
JKN Global Group Public Company Limited’s shares increased by 23% on Monday and 20.6% on Tuesday, following rumours of a sale of Miss Universe shares to Raul Rocha. Rocha has over 35 years of experience in industries including real estate, industrial, energy, wellness, marketing, aviation, automotive, and entertainment across five regions.
“I will work together with Miss Ann-Jakkraphong to lead a new era of success for the MUO business. We will mutually establish the direction of business operations and leverage a network of business partners and capital. We will assist in the development of Miss Universe-branded products and services in order to achieve the specified aims,” Mr. Raul said.
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