UNION J Co., Ltd. agreed to acquire a 16.98% stake in Studio Santa Claus Entertainment Co., Ltd. (KOSDAQ : A204630) from NSN Co., Ltd. (KOSDAQ:A031860) for KRW 15.4 billion on August 18, 2021. UNION J will pay KRW 3,080 cash per share to acquire 5 million shares, representing approximately 16.98% stake in Studio Santa Claus Entertainment Co. In a related transaction, SL Vionics Co., Ltd. (KOSDAQ:A214310) agreed to acquire an additional 4.2% stake in Studio Santa Claus Entertainment Co., Ltd. from NSN Co., Ltd. on August 18, 2021.

The transaction is expected to close on September 17, 2021. As of September 17, 2021, the transaction is expected to close on October 15, 2021. The transaction expected closing date updated to October 12, 2021.