October 11, 2016 / 12:16 PM / a year ago

BRIEF-Mattel expands presence in South Korea

Oct 11 (Reuters) - Mattel Inc:

* Mattel expands presence in South Korea

* Has finalized strategic relationships with Choirock Contents Factory Co Ltd and Sonokong Co Ltd

* Mattel - in deal with Choirock, co will serve as master toy licensee for turning Mecard franchise, currently no.1 toy franchise in South Korea by sales

* Mattel inc- transaction is expected to be completed later this month

* Mattel inc- has also entered into a definitive agreement to acquire a 12% equity stake in Sonokong, a publicly-traded company listed on Korea exchange

* Mattel-Choirock will continue to distribute, manage turning mecard franchise in Korea, while co will hold right to introduce franchise in other markets

* Mattel-Mattel and Sonokong have entered into strategic agreement in which Sonokong will serve as Mattel’s primary distribution partner in South Korea

* Agreement with Sonokong applies to Co’s entire product portfolio, excluding games Source text for Eikon: Further company coverage:

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