Two companies awarded advertising rights for the South East Asian (SEA) Games, to be held in Vientiane in 2009, have now sold part of their stake in the business to a Thai company.
Phetchampa Adverting Company of Laos and the RS International Broadcasting and Sports Management Company (RSBS) of Thailand were given sole advertising rights to the games last year.
The business comprises marketing, the opening and closing ceremonies and international TV broadcasts of the games, including advertising.
Phetchampa and RSBS signed an agreement on Friday in Vientiane with the Tee Ro Thai Intertrade Co Ltd of Thailand , selling them the sales' rights for the production of the games' mascots, Champi and Champa, for about 140 million kip (500,000 baht).
More than 50,000 units will be produced for sale.
In addition, RSBS plans to invest provide 560 million kip (2 million baht) for the production of medals and sportswear for Lao athletes and trainers.
The signing ceremony took place between the Director of the Phetchampa Advertising Company, Mr Khammoui Keomany, and the Managing Director of TRT Intertrade Co Ltd, Mr Praphan Prangla-or.
“We will also help with adverting for the sale of Lao handicrafts during the games,” said Mr Khammoui.
