SET is a global business that provides branding, marketing, advertising, creative design, digital product development, production and data analytics services across the sports, entertainment and tech sectors. SET was a public company on AIM until last year.
MHL is offering to acquire SET shares in exchange for MHL shares, valuing SET at £30 milllion.
MHL has been a supportive minority shareholder in SET since 2017. Both SET and MHL believe the Acquisition will enable SET to become part of an organisation, which will have the scale to accelerate the delivery of a shared strategic vision. MHL believes SET shareholders will benefit from being part of a more diversified group with greater scale.
The BDO team has advised the Independent Directors of SET on the financial terms of the Acquisition under the UK Takeover Code.
The Acquisition is due to complete in the first quarter of 2022.