Unknown buyers completed the acquisition of 60.18% stake of Candle Media Co., Ltd. from Open Innovation Fund managed by Benex Investment, Fytec Focus Investment Union 2, Fytec Sector Investment Union 4 and The Contents Company Inc.
September 05, 2016
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Unknown buyers signed a contract to acquire 60.18% stake of Candle Media Co., Ltd. from Open Innovation Fund managed by Benex Investment, Fytec Focus Investment Union 2, Fytec Sector Investment Union 4 and The Contents Company Inc. for KRW 39.5 billion on July 5, 2016. Under the terms of transaction, 37.11 million shares of Candle Media will be acquired at KRW 1064 per share. Under the terms of payment schedule, KRW 7.9 billion will be paid as deposit of which KRW 4.42 billion won will be covered with the original deposit and additional payment for deposit of KRW 3.48 billion will be paid on the contract signing date. Balance of KRW 31.6 billion will be kept in the escrow account designated after the negotiation between the seller and the buyer on a business day prior the extraordinary meeting of shareholders, and the amount will be withdrawn after the selection of company’s officer by the buyer at the extraordinary meeting of shareholders. Stocks will be transferred as soon as the balance amount is requested to be withdrawn from the escrow account. The transaction is expected to close on September 5, 2016.
Unknown buyers completed the acquisition of 60.18% stake of Candle Media Co., Ltd. from Open Innovation Fund managed by Benex Investment, Fytec Focus Investment Union 2, Fytec Sector Investment Union 4 and The Contents Company Inc. on September 5, 2016. The deal was financed through own funds.
BUCKET STUDIO Co.,Ltd., formerly ACOM STUDIO Co., Ltd., is a company mainly engaged in the provision of the text sending services and contents. Along with subsidiaries, the Company operates its business through two segments. The Digital Advertisement (AD) Center segment is involved in the provision of the text sending services. The text sending services are provided under smsjoa. The Content and intellectual property (IP) segment is involved in the sale of digital versatile discs (DVDs), the provision of image contents, the provision of copyright protection services, as well the operation of theaters and theater shops. The Company distributes its products within the domestic market and to overseas markets.
Unknown buyers completed the acquisition of 60.18% stake of Candle Media Co., Ltd. from Open Innovation Fund managed by Benex Investment, Fytec Focus Investment Union 2, Fytec Sector Investment Union 4 and The Contents Company Inc.