Innocean Acquires Studio Lennon for 29 Billion KRW
[Asia Economy Reporter Lim Hye-seon] Innocean announced on the 21st that it will acquire Studio Lennon Co., Ltd. Studio Lennon is a company specializing in the production and distribution of video and audio recordings.
Innocean will acquire 58,000 shares of Studio Lennon for 29 billion KRW. The total number of issued shares of Studio Lennon is 100,000. With this acquisition, Innocean will become the largest shareholder of Studio Lennon.
Hot Picks Today
"I Thought Only Korea Was Struggling, but Japan Is Worse": Yen-Dollar Exchange Rate Hits 40-Year Low... What’s Happening to the Yen?
- "Waiting for the Right Time to Invest in Stocks, Won't Buy Even Under Pressure"... Advice from Comedian-Turned-Investment Expert Hwang Hyunhee
- SME Exports Surpass USD 64 Billion for First Half-Year Record, Driven by K-Beauty and Semiconductors
- "No Air Conditioner at Home? Come Here"...Rome Takes Extraordinary Measures Amid Record Heat Wave
- "Printing Ghost Stories on Receipts..." Mega MGC Coffee Sells 1 Million Summer Menu Items in Just Two Weeks
Innocean stated, "We plan to acquire Studio Lennon to strengthen our position as a digital creative company by securing high-efficiency, low-cost content production capabilities through a VFX specialist." They added, "Innocean will participate in the acquisition of existing shareholders' shares and a third-party allotment capital increase of the issuing company, and this disclosure comprehensively covers the acquisition of the issuing company's shares." They further explained, "Studio Lennon is expected to be included as a consolidated subsidiary."
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
