Chungho ComNet Co. Ltd. completed the acquisition of 8.93% stake in Wellmade Yedang Co., Ltd..
May 12, 2016 at 12:00 am
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Chungho ComNet Co. Ltd. (KOSE:A012600) agreed to acquire 8.93% stake in Wellmade Yedang Co., Ltd. (KOSDAQ:A036260) from Jong-Eun Byun for KRW 17 billion in cash on March 28, 2016. Under the terms of the agreement, Chungho ComNet Co. Ltd. will acquire 1.52 million shares at KRW 11,215 per share and post transaction will hold 8.94% stake in Wellmade Yedang Co., Ltd. Chungho ComNet Co paid KRW 3 billion on March 28, 2016 and will pay remaining balance of KRW 14 billion on May 12, 2016. Chungho ComNet Co. Ltd will pay the consideration through cash owned and borrowings/loans or underwriting financing. The Board of Chungho ComNet Co. Ltd. passed a resolution for the transaction on March 28, 2016. Hanul Accounting Corporation acted as the external rating institution.
Chungho ComNet Co. Ltd. (KOSE:A012600) completed the acquisition of 8.93% stake in Wellmade Yedang Co., Ltd. (KOSDAQ:A036260) on May 12, 2016.
IMAGINE ASIA Co.,Ltd., formerly Wellmade YEDANG Co.,Ltd, is a Korea-based company mainly engaged in the entertainment business. The Company operates its business through management of artists, production of new contents, as well as production and investment of dramas, movies, music records and others. In addition, the Company is engaged in the global business, which focuses to globalize its artists' career and talents seek.
WELLMADE YEDANG CO LTD 
