Naver board approves acquisition of Dunamu through share swap at a ratio of 1:2.54

Foresight News: According to Korean media hankyung, Naver, the largest portal site operator in South Korea, has approved the decision to acquire Dunamu through a share swap at a board meeting. The share swap value per share of Dunamu is calculated at 439,252 KRW, while the share swap value per share of Naver Financial is calculated at 172,780 KRW, with a swap ratio of 1:2.54.

Naver stated: "Through this share swap, Naver Finance will become the wholly owning parent company, and Dunamu will become its wholly owned subsidiary. Both companies will continue to operate their existing businesses. In addition, both parties will review various restructuring plans."