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[Market Now] Dongbu Securities’ acquisition fund takes over Group Eight

By Park Hyung-ki

Published : March 23, 2016 - 10:30

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Dongbu 4th Special Purpose Acquisition, a KOSDAQ-listed SPC, said in its regulatory filing Wednesday that it has acquired Creative Leaders Group Eight, a privately-held content production house.

The acquisition fund of Dongbu Securities said that it will help Group Eight finance content such as TV dramas and musicals. Following the takeover, Group Eight’s corporate name will cease to exist, but its production operations will continue, according to Dongbu’s disclosure filing.

Headquarters of Dongbu Group in Seoul (Yonhap) Headquarters of Dongbu Group in Seoul (Yonhap)

Also, all shares of Dongbu’s acquisition fund traded on the tech-heavy KOSDAQ will be suspended until the completion of a regulatory examination of its Group Eight takeover. Samil PwC is Dongbu SPC’s main auditor.

(hkp@heraldcorp.com)

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