MMO Game Co. Nexon Buys $686M Stake In Korea's NCsoft

Law360, New York (June 8, 2012, 2:53 PM EDT) -- Online game publisher Nexon Co. Ltd. has picked up a 14.7 percent stake in South Korean peer NCsoft Corp. for 804.5 billion won ($685.5 million) to become the fellow game developer's biggest shareholder, according to an announcement Friday.

Nexon bought 3.2 million NCsoft shares in a private cash transaction with the Korean company's chairman, CEO and founder, Taek Jin Kim, at a price per share of 250,000 won, the buyer said in a statement Friday.

The sale price represents a more than 6 percent discount from...
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