Odaily Frontline｜Korean gaming giant Nexon Holdings seeks to acquire Bithumb exchange
This article comes fromU.Today, by Shaurya Malwa
Odaily Translator |
This article comes from, by Shaurya Malwa
Odaily Translator |According to South Korean media Maekyung reported on ThursdayBithumb Korea, South Korean crypto exchange Bithumb may soon welcome a new owner if a bid of 500 billion won ($460 million) is accepted.
According to reports, NXC, the holding company of South Korean gaming giant Nexon, is preparing for a huge acquisition of Bithumb and has signed a memorandum of understanding with Bithumb earlier this month. According to crypto analyst Joseph Young,
Nexon plans to cooperate with Bithumb shareholder Vidente to acquire a 65% stake in Bithumb and acquiremanagement rights. Currently, Bithumb's major shareholders include Bithumb Holdings (74%), mobile broadcaster Vidente (10%) and Omnitel (8%).Nexon is best known for developing popular games such as KartRider and publishing the online game Need For Speed Online. NXC has the opportunity to trade at a favorable price. Bithumb's old shares were valued at 1 trillion won ($900 million) in the over-the-counter market, the report said, implying that NXC is expected to buy the company at a steep discount.Since August 2020, Bithumb has been looking to sell a large stake. According to reports, the company
Selected top audit firm Samjong KPMGResponsible for managing the transaction and recruiting managers of domestic and foreign private equity funds (PEFs) at the time.Even crypto exchange Huobi is reportedly interested.
However, the sale at the time was delayed amid turmoil on Bithumb’s board of directors.
According to last year's report, KorbitThe chairman of its holding company, Lee Jung Hoon, was investigated and arrested by authorities for alleged token fraud, securities fraud, and market manipulation. The case is still pending.BitstampIf the deal is finalized, the acquisition of Bithumb will be NXC’s third crypto exchange acquisition. NXC has previously acquired a crypto exchange
(acquired by NXMH, the European subsidiary of NXC, in October 2018), Nexon management said it will have future plans to integrate cryptocurrencies into its retail game lineup.
according toCryptoNewsProgress Update: NCsoft, Vidente, Nexon Deny Participation in AcquisitionClick to viewaccording to
Citing a report from ZDNet Korea (currently the original URL has been deleted, the specific content), South Korean game development company NCsoft intends to participate in the acquisition of Bithumb. The company intends to acquire a 65.76 percent stake in Bithumb Holdings for more than 650 billion won (approximately $596 million). Bithumb is promoting the sale of 65.76% of Bithumb Holdings shares, which is the sum of the shares held by DAA (30%), BTHMB (10.70%) and other shareholders (25.06%); it is reported that most of them are owned by the chairman of Bithumb Holdings and Bithumb Korea Lee Jung Hoon holds. If NCsoft acquires more than half of the shares of Bithumb Holdings, it will have the management rights of Bithumb Korea, the operating company of Bithumb.but
NCsoft denied the reportNCsoft denied the report, "NCsoft did not participate in the acquisition of Bithumb at all, and hopes that the media will assist to avoid confusion among NCsoft, shareholders and investors due to false news."
January 8,According to Bitcoin.com
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