SK Telecom Co. Ltd. (KOSE:A017670) made a tender offer to acquire 12.91% stake in CJ Hellovision Co., Ltd. (KOSE:A037560) for KRW 120 billion in cash on November 2, 2015. Under the offer, SK Telecom Co will acquire 10 million shares of CJ Hellovision at KRW 12,000 per shares.

The tender offer will begin on November 2, 2015 and is expected to be completed on November 23, 2015. In a related transaction, SK Telecom Co. Ltd. (KOSE:A017670) agreed to acquire 30% stake in CJ Hellovision Co., Ltd. (KOSE:A037560) from CJ O Shopping Co., Ltd. for KRW 500 billion.

As of November 26, 2015, total numbers of shares acquired were 6.67 million for KRW 80.1 billion. NH Investment & Securities Co., Ltd. acted as the handler for the transaction. As on January 12, 2016, period for tendering the existing shares has been changed to February 29, 2016 to March 29, 2016.

The transaction is expected to close on April 1, 2016.