(Alliance News) - Investment firm FastForward Innovations Ltd said Thursday that discussions for the potential acquisition of Entertainment Direct Asia Ltd by Hong-Kong listed Regent Pacific Group Ltd have been terminated with effect on Wednesday.
FastForward currently holds a 15% stake in the e-commerce platform, which is focused on beauty & cosmetics, health & wellness and related sectors.
In late May it was announced that Regent Pacific entered a non-binding offer to acquire Entertainment Direct, also known as Yooya for USD15 million, which would value FastForward's holding at USD2.3 million.
Shares in FastForward Innovations were down 0.3% at 8.48 pence on Thursday.