Phoenix Holdings Inc. cancelled the acquisition of GAD COMMUNICATION CO.,LTD. from Kang, Yeong-hwan and 2 others.
March 01, 2016 at 11:00 pm EST
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Phoenix Holdings Inc. (KOSE:A037270) signed an asset acquisition contract to acquire GAD COMMUNICATION CO.,LTD. from Kang, Yeong-hwan and 2 others for KRW 6 billion on March 2, 2015. Under the terms of the transaction, Phoenix will acquire 0.06 million shares in the transaction. Total assets of KRW 2,469 million were reported for GAD COMMUNICATION. The Board of Directors of Phoenix passed a resolution for the transaction on March 2, 2015. The transaction is expected to close on March 16, 2015. Induk Accounting Corporation acted as the external rating institution.
Phoenix Holdings Inc. (KOSE:A037270) cancelled the acquisition of GAD COMMUNICATION CO.,LTD. from Kang, Yeong-hwan and 2 others on March 2, 2016.
YG PLUS, INC, formerly PHOENIX HOLDINGS INC, is a Korea-based advertising agency. Along with its affiliated companies, the Company operates two categories of businesses: advertisement production business and media agency business. Its advertisement production business creates advertisements for its clients. Its media agency business publishes and broadcasts advertisements through mass media such as televisions (TVs), radios, newspapers, magazines, new media, such as cable TVs and Internet, as well as outdoor billboards, subways, buses and theaters. The Companyâs clients include COCACOLA, SK Telecom, THE FACE SHOP and others.
YG PLUS, INC. 
