Wellmade Yedang Co., Ltd. and Dream T Entertainment Co., Ltd. acquired 80% stake in YMC Entertainment from Jo Yoo-Myung for KRW 5 billion.
July 01, 2015 at 12:00 am
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Wellmade Yedang Co., Ltd. (KOSDAQ:A036260) and Dream T Entertainment Co., Ltd. (XKON:A220110) acquired 80% stake in YMC Entertainment from Jo Yoo-Myung for KRW 5 billion on July 1, 2015. Wellmade Yedang Co., Ltd. will acquire 0.01 million shares (39% stake) for KRW 2.4 billion in cash at the price of KRW 0.31 million per share. Dream T Entertainment Co will acquire 0.08 million shares (41% stake) for KRW 2.5 billion. Dream T Entertainment paid a deposit of KRW 254.2 million on July 1, 2015 and will pay the remaining balance of KRW 2.29 billion on July 6, 2015. YMC Entertainment reported total assets of KRW 2.67 billion, total liabilities of KRW 2.08 billion, total stockholders' equity of KRW 596 million, sales revenues of KRW 6.53 billion and net profit of KRW 496 million in 2014. The Board of Wellmade Yedang and Dream T Entertainment passed a resolution for the transaction on July 1, 2015. The transaction is expected to complete on July 1, 2015. Jeong Myung Accounting Corp. acted as the external valuation agency.
Wellmade Yedang Co., Ltd. (KOSDAQ:A036260) and Dream T Entertainment Co., Ltd. (XKON:A220110) completed the acquisition of 80% stake in YMC Entertainment from Jo Yoo-Myung on July 1, 2015.
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 
