Sony to Acquire 22.93% Stake in GungHo Online Entertainment

MT Newswires Live
10 hours ago

Sony's (TYO:6758) unit, Sony Music Entertainment, has agreed to acquire 12 million shares in GungHo Online Entertainment (TYO:3765) from SON Financial for 2,385 yen per share, totalling about 28.6 billion yen, according to a Tokyo bourse filing on Friday.

The transaction, expected to close on Dec. 30, will make Sony Music the largest shareholder in GungHo with a 22.93% stake, leading to a capital and business alliance between the two companies.

The partnership will focus on joint development of smartphone, console, and PC games, as well as exploring new projects using Sony Music's intellectual property.

Sony Music has committed to respecting GungHo's managerial independence as a listed company following the transaction.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10