Star East's move follows an earlier first-quarter sharespurchase that raised its ownership interest to 14.3%. That move,like the current filing with the Securities and ExchangeCommission, didn't surprise industry watchers since Star East isPlanet Hollywood's franchise operator of record in Asia. The twofirms are a mutual admiration society with Planet currently owning6% of Star East stock.
Star East buys shares through Magnetic Light Profits, awholly-owned subsidiary based in the British Virgin Islands. StarEast and other investors in Planet Hollywood dole out limitednumbers of class B stock to selected entertainment industrycelebrities in exchange for their appearances at restaurantopenings and special events promoted by the restaurant company.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
