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Founder of S. Korea's gaming giant Nexon reportedly to sell controlling stake in holding firm

2019-01-04 1 Dailymotion

넥슨 김정주 지분매각 추진...인수기업은 아직 불투명<br /><br />South Korean gaming giant Nexon could be taken over by foreign entities.<br />Sources say the founder Kim Jung-ju is considering selling a 98 percent stake in Nexon's holding company.<br />Yoon Jung-min has the full story. <br />Industry observers have been saying the founder of Nexon Corporation, Kim Jung-ju has reportedly been planning to sell off a controlling stake in Nexon's holding company NXC Corporation.<br />In a press release on Friday, Kim did not deny the sell-off plan, and announced that he is considering ways to make his company more competitive, hinting that sell-off could be one of the possible options.<br />Media reports have suggested the founder is considering selling a 98-point-64 percent stake in the holding company. The stakes owned by himself, his wife and by other companies are worth a total of 5-point-32 billion U.S. dollars.<br />NXC is the largest shareholder of Nexon, which is listed on the Tokyo stock market and controls Nexon Korea.<br />Market watchers say the estimated value of the stakes may be worth 9 billion dollars when counting the value of other companies NXC currently owns.<br />The sell-off is expected to be the most expensive of its kind in the domestic game industry.<br />Industry watchers say potential buyers include Chinese tech firm Tencent and U.S. video game company Electronic Arts.<br />Local games businesses have expressed concerns that it will be difficult for them to cooperate on industry-related issues if the gaming giant is taken over by a foreign company.<br />Yoon Jung-min, Arirang News. <br />

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