TY Holdings Co., Ltd (KOSE:A363280) agreed to acquire additional 38.78% stake in SBS Media Holdings Co., Ltd. (KOSE:A101060) for KRW 2.1 bilion on April 30, 2021. The exchange ratio for the consideration is 1: 0.0768974. TY Holdings Co., Ltd will issue 0.0768974 common stocks.

The deal is subject to approval from shareholders of TY Holdings. After the transaction, SBS Media Holdings will be merged into TY Holdings. The deal is expected to be completed by December 2, 2021.