KG Chemical Corporation and NHN Entertainment Corp. cancelled the acquisition of ShinMac Company Ltd.
October 24, 2016
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KG Chemical Corporation (KOSE:A001390) and NHN Entertainment Corp. (KOSE:A181710) signed a letter of intent to acquire ShinMac Company Ltd. on July 26, 2016. The acquisition terms and the investment amount are not yet confirmed.
KG Chemical Corporation (KOSE:A001390) and NHN Entertainment Corp. (KOSE:A181710) cancelled the acquisition of ShinMac Company Ltd. on October 25, 2016. The transaction has been cancelled due to huge difference in views.
NHN Corp, formerly NHN Entertainment Corp, is a Korea-based company principally engaged in the development and distribution of games. Through the operation of online game portal www.hangame.com, the Company develops and provides massive multiplayer online role playing games (MMORPGs), Web boards, sports, and casual games. It also provides mobile games, including Line Disney Tsum Tsum, Line Pop 2, Youkai Watch Puni Puni, Crusaders Quest, Friends Pop and others. Additionally, the Company provides convenience payment services and webtoon services through developed applications, Payco and Comico.