Suk-Gyu Hong and Gae-Myung Lee cancelled the acquisition of Phoenix Communications Inc. from Phoenix Holdings Inc..
December 25, 2015 at 11:00 pm
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Suk-Gyu Hong and Gae-Myung Lee signed an agreement to acquire Phoenix Communications Inc. from Phoenix Holdings Inc. (KOSE:A037270) for KRW 2.8 billion on December 26, 2014. Suk-Gyu Hong will acquire 0.22 million shares and Gae-Myung Lee will acquire 0.18 million shares in the transaction. A deposit amount is paid and the balance consideration will be payable on January 15, 2015. The consideration will be transferred to the bank account, Phoenix Holdings appointed. In a related deal, Suk-Gyu Hong signed an agreement to acquire C&Marketing Services Co., Ltd. from Phoenix Holdings Inc. (KOSE:A037270). The Board of Directors of Phoenix Holdings resolved for the deal on December 26, 2014. Sang-Hyung Han of Samyoung Accounting Corporation acted as external evaluating agency in the deal.
Suk-Gyu Hong and Gae-Myung Lee cancelled the acquisition of Phoenix Communications Inc. from Phoenix Holdings Inc. (KOSE:A037270) on December 26, 2015.
YG PLUS, INC, formerly PHOENIX HOLDINGS INC, is a Korea-based advertising agency. Along with its affiliated companies, the Company operates two categories of businesses: advertisement production business and media agency business. Its advertisement production business creates advertisements for its clients. Its media agency business publishes and broadcasts advertisements through mass media such as televisions (TVs), radios, newspapers, magazines, new media, such as cable TVs and Internet, as well as outdoor billboards, subways, buses and theaters. The Companyâs clients include COCACOLA, SK Telecom, THE FACE SHOP and others.
YG PLUS, INC. 
