Megastudy, Mega Investment Sold to JB Financial Group
Sale of Entire Stake for 48 Billion KRW
[Asia Economy Reporter Han Jinju] Megastudy has sold all shares of its subsidiary Megainvestment to JB Financial Group.
Megastudy announced on the 30th that it completed the signing of the main contract, including the stock transfer agreement, after obtaining approval from the board of directors.
Megainvestment is a new technology finance company established in 2012, in which Megastudy invested 19.8 billion KRW (99% stake) out of 20 billion KRW in capital.
Megastudy transferred all 3.96 million shares of Megainvestment for 48.015 billion KRW. The scheduled transfer date is June 3.
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Son Eun-jin, CEO of Megastudy, said, "Both Megastudy and JB Financial Group regard this as a meaningful deal that meets the needs of each company," adding, "Based on the know-how accumulated over the past 10 years, Megastudy will take this opportunity to reorganize its investment business in a way that further leverages our strengths in discovering and nurturing early-stage companies."
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