Hyundai HCN Co., Ltd. (KOSE: A126560) completed the acquisition of 97.46% stake in Pohang Cable Broadcasting Co.,Ltd.
March 20, 2013 at 12:00 am EDT
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Hyundai HCN Co., Ltd. (KOSE: A126560) agreed to acquire 97.46% stake in Pohang Cable Broadcasting Co.,Ltd. for KRW 46.6 billion on December 27, 2011. Pohang Cable Broadcasting reported revenues of KRW 2.5 billion, net loss of KRW 7.6 billion, total assets of KRW 9 billion and net assets of KRW 4.9 billion for the year ended December 31, 2010. The transaction was resolved by the Board of Directors of Hyundai HCN Co., Ltd. on December 27, 2011. Hyundai HCN Co., Ltd. (KOSE: A126560) made a revisede proposal to acquire 97.46% stake in Pohang Cable Broadcasting Co.,Ltd. for KRW 46.09 billion on March 20, 2013. The transaction is expected to be closed on March 20, 2013.
Hyundai HCN Co., Ltd. (KOSE: A126560) completed the acquisition of 97.46% stake in Pohang Cable Broadcasting Co.,Ltd. on March 20, 2013.
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 FUTURENET CO., LTD. 
