An unknown buyer acquired 60% stake in Interworks Media Co., Ltd. from Phoenix Holdings Inc. for approximately KRW 1.9 billion.
March 18, 2015
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An unknown buyer agreed to acquire 60% stake in Interworks Media Co., Ltd. from Phoenix Holdings Inc. (KOSE:A037270) for approximately KRW 1.9 billion in cash on March 19, 2015. Phoenix Holdings Inc. will sell 0.36 million shares in the deal. The proceeds will be used to secure funds for promoting new business. Board of Directors of Phoenix Holdings Inc. made a resolution in favor of the transaction on March 19, 2015. The deal is scheduled to close on March 19, 2015.
An unknown buyer completed the acquisition of 60% stake in Interworks Media Co., Ltd. from Phoenix Holdings Inc. (KOSE:A037270) on March 19, 2015.
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. 
