Suk-Gyu Hong cancelled the acquisition of 97.1% stake in C&Marketing Services Co., Ltd. from Phoenix Holdings Inc..
December 25, 2015 at 11:00 pm
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Suk-Gyu Hong signed an agreement to acquire 97.1% stake in C&Marketing Services Co., Ltd. from Phoenix Holdings Inc. (KOSE:A037270) for approximately KRW 630 million on December 26, 2014. Suk-Gyu will acquire 0.49 million shares in the transaction. A deposit amount has been paid and the balance will be payable on January 15, 2015. In a related deal, Suk-Gyu Hong and Gae-Myung Lee signed an agreement to acquire Phoenix Communications Inc. from Phoenix Holdings Inc. for KRW 2.8 billion on December 26, 2014. The Board of Directors of Phoenix Holdings passed a resolution for the deal. The expected transaction settlement date is December 26, 2014. The proceeds will be used as the finances for promoting new business. Sang-Hyung Han of Samyoung Accounting Corporation acted as external evaluating agency in the transaction.
Suk-Gyu Hong cancelled the acquisition of 97.1% stake in C&Marketing Services Co., Ltd. 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. 
