Yellow Mobile Pursues Sale of Listed Subsidiary

Private Equity Fund and MOU... Corporate Due Diligence This Week
Yellow Mobile, Expecting Financial Structure Improvement

[Asia Economy Reporter Hyungsoo Park] Yellow Mobile Group is selling its stakes in Future Stream Networks and Daily Blockchain to a private equity fund (PEF).

According to the investment banking (IB) industry on the 9th, Yellow Mobile, Yellow Digital Marketing, Yellow O2O Group, the major shareholders of Daily Blockchain and Future Stream Networks, signed a memorandum of understanding (MOU) on the 6th to sell controlling shares. The acquiring private equity fund will conduct due diligence and proceed to sign the final contract.

An official stated, "We have signed a non-disclosure agreement (NDA), so we cannot disclose the contracting party," and added, "It is true that we signed the MOU."

Yellow Mobile holds 15.08% (7.45 million shares) of Daily Blockchain shares and convertible bonds. Additionally, through Yellow Digital Marketing, it holds 25.27% (24.56 million shares) of Future Stream Networks.

Yellow Mobile is conducting asset sales to improve its financial structure. Future Stream Networks stated in a disclosure response last month, "After confirming with the largest shareholder, Yellow Digital Marketing, we are pursuing the sale of Future Stream Networks shares." It also added that no specific details have been finalized yet.

Independent advertising agency Future Stream Networks recorded consolidated sales of 145.6 billion KRW last year, a 16% increase compared to the previous year. Based on its media commerce business, it is expanding new businesses linked to digital marketing. It is also actively exploring overseas markets by acquiring Clever Group, the largest online marketing company in Vietnam.

Yellow Mobile acquired Aegis System and changed its name to Daily Blockchain. It supplies smart city solutions based on blockchain technology. Since last year, it has been participating in Bucheon City's Smart City Challenge project. It is working on building solutions to solve Bucheon City's parking space issues using blockchain technology.

This content was produced with the assistance of AI translation services.