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Eugene ENT gains YTN shareholder rights

Collected: 2024.02.14

Distributed: 2024.02.15

Source: Go Direct

[Photo by MK DB]

Eugene ENT Co., currently the biggest stakeholder of South Korean news broadcaster YTN, paid the balance of its purchase price to the previous state-owned shareholders on Wednesday.

KEPCO Knowledge Data Network Co., Ltd. and the Korea Racing Authority, both of which owned 30.95 percent of the stake in the broadcaster, sold their shares to Eugene ENT for 319.9 billion won ($239 million).

The new shareholder will be allowed to exercise rights under the purchase and sale contract, along with other shareholder rights, including the right to propose shareholder resolutions and provisional meetings.

Eugene ENT is expected to replace more than half of the broadcaster’s board members, including those whose terms have expired, during the coming annual general meeting scheduled for March 29th, 2024.

By Pulse

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