HYBE Co., Ltd. completed the acquisition of 52.48% stake in Belift Lab Inc from CJ ENM CO., Ltd. and Tae-ho Kim.
October 30, 2023
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HYBE Co., Ltd. (KOSE:A352820) agreed to acquire the remaining 52.48% stake in Belift Lab Inc from CJ ENM CO., Ltd. (KOSDAQ:A035760) and Tae-ho Kim for KRW 150 billion on August 10, 2023. The transaction is expected to close on September 15, 2023. As of September 15, 2023 The disposal date will be confirmed and re-announced after notification of the Fair Trade Commission's review results.
HYBE Co., Ltd. (KOSE:A352820) completed the acquisition of 52.48% stake in Belift Lab Inc from CJ ENM CO., Ltd. (KOSDAQ:A035760) and Tae-ho Kim on October 31, 2023.
Hybe Co Ltd, formerly Big Hit Entertainment Co Ltd, is a Korea-based company mainly engaged in the business of fostering artists and producing music. The Company is engaged in businesses such as fostering artists, producing music, planning and acting on behalf of performances, distribution of albums and sound sources, production and distribution of video contents, and advertising agency. The Company is also engaged in the development and distribution of artist-based secondary contents such as merchandising (MD), characters, and publications. In addition, the Company also engaged in the software publishing business, food and drink products manufacturing business, and others. The Company sells products in domestic and overseas markets such as the United States and Japan.