KCL

Deals & Cases

The Completion of the Squeeze-Out of the Korean Broadcasting System (“KBS”) to Buy Out the Minority Shareholders
2020-04-27

KCL successfully represented the Korean Broadcasting System (“KBS”) to carry out its squeeze-out of the minority shareholders of its subsidiary KBS Media Ltd.

 

In this transaction, the target company’s shareholders were vastly dispersed, with over 1,000 people involved, leading to many complicated issues in the process of conducting announcements, notices, purchase agreements, deposits, etc. Nevertheless, through the flawless maneuvering around these types of legal issues, the controlling shareholder’s right of claim for sale was validly exercised in accordance with the Commercial Code, leading to the significant result of the controlling shareholder being able to secure the complete management rights to the subsidiary.