[Asia Economy Reporter Jang Hyowon] SL Bionics announced on the 3rd that it will sell its entire stake in its subsidiary Studio Santa Claus for 41.5 billion KRW to secure funds for new business initiatives and improve its financial structure.
The buyers are known to be Chorokbaem New Technology Fund No. 6 and Bucket Studio. SL Bionics, the current largest shareholder, signed a stock transfer agreement to transfer all of its shares, totaling 2,036,117 shares or 19.82%. On the same day, 4.15 billion KRW was paid, and the remaining balance is scheduled to be paid on the 22nd.
The company acquired Studio Santa Claus from NSN in December 2020, and through this stock transfer agreement, it earned approximately 26 billion KRW in capital gains in about 1 year and 8 months.
As the company recently added business purposes such as petroleum refining and secondary battery-related businesses, it plans to use the proceeds from the sale of Studio Santa Claus as funds to actively pursue new business ventures.
An SL Bionics representative said, “Since acquiring Studio Santa Claus, we have strengthened both the scale and substance of our business, including actor development, content production, and distribution, and have grown into a global comprehensive entertainment company. We sold the stake at a price that met the company’s conditions, reflecting a high valuation of our corporate value.”
He added, “The secured funds will be used for new business initiatives and financial structure improvement, including the petroleum refining business and secondary battery-related business following the merger with Woosung Industry, which are part of our future growth strategy.”
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