CJ E&M Corporation (KOSE:A130960) agreed to acquire remaining 13.3% stake in On Game Network Inc. from KTHitel Co., Ltd. (KOSE:A036030) and ESTsoft Corp. (KOSE:A047560) on August 21, 2013. CJ E&M will issue 0.167336 shares for every share of On Game Network.

Pursuant to the transaction, On Game will be dissolved. As of December 31, 2012, On Game Network had Total assets of KRW 24.2 billion, Total liabilities of KRW 3.6 billion and Total stockholders' equity of KRW 20.58 billion. The transaction is expected to close on December 1, 2013.

PricewaterhouseCoopers Korea acted as accountant for CJ E&M.