Nexon Sell-off Likely to Flop
Published on | Source
Nexon chairman Kim Jung-ju is expected to scrap plans to sell his company after failing to narrow differences over the price and other terms with potential buyers.
Advertisement
A source close to the negotiations said they "have not been going well, and the prevailing atmosphere is that the deal is off".
Early this month, Kim offered to sell his entire 98.64 percent stake in Nexon parent company NXC. Rivals Kakao and Netmarble as well as global investment firms KKR & Co. and Korean private equity fund MBK Partners made offers, but they all felt the price was too high.
Some potential buyers are still seeking a new round of negotiations. One interested buyer said, "We have not given up on acquiring Nexon and talks are still ongoing".