Keyeast Co., Ltd. cancelled the acquisition of an additional 19.37% stake in Digital Adventure, Inc. from S.M. Entertainment Japan, Co., Ltd.
May 13, 2019
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Keyeast Co., Ltd. (KOSDAQ:A054780) agreed to acquire an additional 19.37% stake in Digital Adventure, Inc. (JASDAQ:4772) from S.M. Entertainment Japan, Co., Ltd for KRW 13.6 billion on May 14, 2018. Under the terms, Keyeast Co., Ltd will issue 5.2 million shares as consideration to acquire 3.2 million shares of Digital Adventure, Inc. Post acquisition, Keyeast Co., Ltd will hold 8.3 million shares (50.10% stake) in Digital Adventure, Inc. The transaction has been resolved by the Board of Directors of Keyeast Co., Ltd on May 14, 2018. As of June 21, 2018, the payment date of the consideration was amended from June 22, 2018 to July 23, 2018. The transaction is expected to be completed on June 22, 2018. Lian Accounting Corporation acted as an external rating institution in the transaction.
Keyeast Co., Ltd. (KOSDAQ:A054780) cancelled the acquisition of an additional 19.37% stake in Digital Adventure, Inc. (JASDAQ:4772) from S.M. Entertainment Japan, Co., Ltd on May 14, 2019.
KEYEAST Co., Ltd. is a Korea-based company engaged in the entertainment business. The Company engages in the management of recruiting new and top actors and brand marketing of actors; planning, manufacture and sale of the value added products based on Korean dramas and movies with affiliated artists through merchandising and licensing business; production and planning of dramas, movies, music and other culture contents as well as provision of contents through media platforms; investment of dramas and movies, and planning and conducting of events, such as performances, exhibitions and conventions. On August 27, 2012, the Company established a new wholly owned subsidiary, which is mainly engaged in the producing of drama and broadcasting contents.
KEYEAST.CO.,LTD. 
