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    A035760   KR7035760008

CJ ENM CO., LTD.

(A035760)
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SK Broadband Co., Ltd. cancelled the acquisition of CJ Hellovision Co., Ltd. from CJ O Shopping Co., Ltd. and others in a reverse merger transaction

07/18/2016 EDT

SK Broadband Co., Ltd. agreed to acquire CJ Hellovision Co., Ltd. (KOSE:A037560) from CJ O Shopping Co., Ltd. (KOSDAQ:A035760) and others in a reverse merger transaction on November 2, 2015. CJ Hellovision will issue 0.4756554 shares for every share of SK and issue 141.96 million shares as consideration. CJ Hellovision Co., Ltd. will continue to remain as the surviving company and SK Broadband Co., Ltd. will dissolve. On February 12, 2016, the merger ratio was changed to 1:0.4761236 and CJ Hellovision will issue 142.1 million shares as consideration. The transaction is subject to approval by government institutions and shareholders of CJ. The transaction is also subject to approval of Board of SK Broadband and CJ Hellovision meeting for which will be held in the early 2016 and antitrust approval by the FTC. A resolution was passed by the Board of Directors of SK Telecom Co. Ltd. As of November 2, 2015, the scheduled date of general meeting of stockholders is January 26, 2016. The creditors can submit their objections from January 26, 2016 to February 26, 2016. As of January 11, 2016, the general meeting of stockholders is scheduled on February 26, 2016. The creditors can submit their objections from February 29, 2016 to March 29, 2016. The merger date is April 1, 2016 and the scheduled delivery date of new share certificates is April 11, 2016. Korea Fair Trade Commission denied approval for the transaction on July 18, 2016. Samil PricewaterhouseCoopers acted as advisor and rating institution in the deal. SK Broadband Co., Ltd. cancelled the acquisition of CJ Hellovision Co., Ltd. (KOSE:A037560) from CJ O Shopping Co., Ltd. (KOSDAQ:A035760) and others in a reverse merger transaction on July 18, 2016.


© S&P Capital IQ 2016
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Financials
Sales 2022 4 151 B 3,28 B 3,28 B
Net income 2022 157 B 0,12 B 0,12 B
Net Debt 2022 989 B 0,78 B 0,78 B
P/E ratio 2022 14,8x
Yield 2022 1,80%
Capitalization 2 208 B 1 747 M 1 747 M
EV / Sales 2022 0,77x
EV / Sales 2023 0,68x
Nbr of Employees -
Free-Float 46,8%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 106 500,00 KRW
Average target price 167 750,00 KRW
Spread / Average Target 57,5%
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Managers and Directors
Min-Hoe Huh Co-Chief Executive Officer, Director & VP
Min-Ho Heo Co-Chief Executive Officer, Director & VP
Jae-Min Baek Managing Director & Head-Finance
Hee-Young Yang MD & Head-Information Technology Strategy
Hyeong-Jin Jeong Managing Director & Head-IP Operations
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