NHN KCP Corp. agreed to acquire additional 14.9% in Korea Credit-Card Electronic-Settlement Service Co., Ltd. from Hyundai Card Co., Ltd. and Lotte Card CO.,LTD. for KRW 5.1 billion.
NHN KCP Corp. (KOSDAQ:A060250) agreed to acquire additional 14.9% in Korea Credit-Card Electronic-Settlement Service Co., Ltd. from Hyundai Card Co., Ltd. and Lotte Card CO.,LTD. for KRW 5.1 billion on December 22, 2020. As per terms, additional 0.13 million shares will be acquired. The sellers will sell 0.06 million shares each. Post completion, NHN KCP Corp. will hold 0.28 million shares in Korea Credit-Card Electronic-Settlement. For the year ended December 31, 2019, Korea Credit-Card Electronic-Settlement Service Co., Ltd. reported total assets of KRW 30.5 billion, revenues of KRW 42.1 billion, net income of KRW 414 million and net assets of KRW 21.3 billion. The deal is subject to FTC reporting. The Board of Directors resolved the deal on December 22, 2020.
NHN KCP Corp is a Korea-based company primarily engaged in the provision of online payment services. The Company operates its business through three segments. The Online Payment Business segment is engaged in the provision of electronic payment agency services for online shopping malls and credit card transaction data relay services. The Offline Payment Business segment is engaged in offline value-added communication network business and payment terminal product supply business. The Project Business segment is engaged in the sales increasing strategies, human resource management and point of sale (POS) solution provision business.
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NHN KCP Corp. agreed to acquire additional 14.9% in Korea Credit-Card Electronic-Settlement Service Co., Ltd. from Hyundai Card Co., Ltd. and Lotte Card CO.,LTD. for KRW 5.1 billion.
