Me2on Co., Ltd. cancelled the acquisition of 50.1% stake in Lucky Zen Limited from YummyApps Limited.
November 27, 2018
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Me2on Co., Ltd. (KOSDAQ:A201490) agreed to acquire 50.1% stake in Lucky Zen Limited from YummyApps Limited for KRW 75.9 billion on November 28, 2017. Under the terms of transaction, Me2on Co., Ltd. will acquire 0.06 million shares for KRW 75.9 billion. Me2on Co., Ltd. will pay KRW 27.1 billion on November 29, 2017, the second payment of KRW 27.1 billion will be deposited in the escrow account on November 29, 2017, the payment will be made after confirming if the pre-requisite conditions have been met and the third payment of KRW 21.7 billion will be paid upon the 2018 and 2019 goals and achievements. The transaction will be funded by retained funds and convertible bond issuance. The transaction has been resolved by the Board of Me2on Co., Ltd. Samil PricewaterhouseCoopers acted as external rating institution in the transaction. The transaction is expected to be completed by November 29, 2017.
Me2on Co., Ltd. (KOSDAQ:A201490) cancelled the acquisition of 50.1% stake in Lucky Zen Limited from YummyApps Limited on November 28, 2018.
ME2ON CO., LTD. is a Korea-based company mainly engaged in the development and provision of games. Along with subsidiaries, the Company operates its business through two segments. The Game Business segment is engaged in the development and provision of mobile, web and online games. The game is provided under the name of Fulpot Poker, Full House Casino and Play Vegas. The Advertising Business segment is engaged in the provision of online advertising services. The Company distributes its products within the domestic market and to overseas markets.
ME2ON CO., LTD. 
