Hyundai HCN Co., Ltd. cancelled the acquisition of Seocho Digital Broadcasting Co.,Ltd from D'LIVE Co., Ltd.
March 29, 2019
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Hyundai HCN Co., Ltd. (KOSE:A126560) agreed to acquire Seocho Digital Broadcasting Co.,Ltd from D'LIVE Co., Ltd. for KRW 33.5 billion on March 30, 2018. Under the terms of transaction, Hyundai HCN Co., Ltd. will acquire 2 million shares for KRW 33.5 billion. As of November 22, 2018, the consideration was amended to KRW 32.5 billion. The transaction is subject to approval from Ministry of Science and Technology and Ministry of Information and Communication. The transaction is resolved by the Board of Hyundai HCN Co., Ltd. The transaction is expected to completed by December 31, 2018. The transaction is expected to close on November 22, 2018. Kim & Chang acted as legal council to D'LIVE Co., Ltd.
Hyundai HCN Co., Ltd. (KOSE:A126560) cancelled the acquisition of Seocho Digital Broadcasting Co.,Ltd from D'LIVE Co., Ltd. on March 30, 2019.
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. 
