HYBE Co., Ltd. completed the acquisition of a 0.98% stake in SM Entertainment Co., Ltd. from Galaxia SM, Inc. for KRW 28 billion.
March 05, 2023
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HYBE Co., Ltd. (KOSE:A352820) made an offer to acquire 25% stake in SM Entertainment Co., Ltd. (KOSDAQ:A041510) from Galaxia SM, Inc. (KOSE:A011420) for approximately KRW 710 billion on February 10, 2023. In a related transaction, HYBE Co., Ltd. (KOSE:A352820) agreed to acquire 14.8% stake in SM Entertainment Co., Ltd. (KOSDAQ:A041510) from Lee Soo-man for approximately KRW 420 billion. As of February 20, 2023, SM Entertainment calls its takeover by Hybe unfair and hostile. The tender deadline is March 1, or February 28 when counting in actual business days. As of February 28, 2023, the transaction is expected to close on March 8, 2023.
HYBE Co., Ltd. (KOSE:A352820) completed the acquisition of a 0.98% stake in SM Entertainment Co., Ltd. (KOSDAQ:A041510) from Galaxia SM, Inc. (KOSE:A011420) for KRW 28 billion on March 6, 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.
HYBE CO., LTD. 
