Hyundai HCN Co., Ltd. agreed to HCN Seocho, HCN Kyongbuk System Co., Ltd, HCN Dongfak Systems Co., Ltd, HCN Busan Systems Co., Ltd and Hyundai HCN Chungbuk System Co., Ltd. for KRW 17.9 billion.
May 11, 2016
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Hyundai HCN Co., Ltd. (KOSE:A126560) agreed to acquire HCN Seocho, HCN Kyongbuk System Co., Ltd, HCN Dongjak Systems Co., Ltd, HCN Busan Systems Co., Ltd and Hyundai HCN Chungbuk System Co., Ltd. for KRW 17.9 billion on May 12, 2016. The merger ratios are 1: 1.5698134 : 0.7552656 : 0.9337393 : 8.3857491 : 1.5089669 between Hyundai HCN Co. and the five target firms respectively. Hyundai will issue 4,981,054 million shares of its common stock as consideration for the purchase. Following the transaction, the five acquired firms will dissolve and Hyundai HCN will be surviving entity. Hyundai HCN Co., Ltd. entered into contract to acquire to HCN Seocho, HCN Kyongbuk System Co., Ltd, HCN Dongjak Systems Co., Ltd, HCN Busan Systems Co., Ltd and Hyundai HCN Chungbuk System Co., Ltd. on May 13, 2016. As on October 12, 2016, the terms of the transaction were revised. The new merger ratio is 1: 1.5701052: 0.7519557: 0.9250753: 8.3931526: 1.5154146. Hyundai HCN will now issue 4.98 million shares. The transaction is expected to close on December 30, 2016.
Hyundai Futurenet Co Ltd is a Korea-based company principally engaged in the digital signage business. The Company operates its business through four segments. The Signage Business segment is engaged in the provision of video contents such as information, entertainment advertisement and others through display screens. The Messaging Business segment is engaged in the provision of message agency services sent by corporates used for reservation, order confirmation, and delivery to customers as well as advertising and other purposes. The Immersive Contents Business segment is engaged in the provision of media art exhibitions and operation of museums. The Cosmetic Materials Business segment is engaged in the manufacture and sale of raw materials for cosmetics, health functional food and other products.
Hyundai HCN Co., Ltd. agreed to HCN Seocho, HCN Kyongbuk System Co., Ltd, HCN Dongfak Systems Co., Ltd, HCN Busan Systems Co., Ltd and Hyundai HCN Chungbuk System Co., Ltd. for KRW 17.9 billion.
HYUNDAI FUTURENET CO., LTD. 
