May 31, 2019 / 10:12 AM / 2 months ago

Five make formal bids for parent of gaming firm Nexon: Korea Economic Daily

SEOUL (Reuters) - Private equity firms KKR, Bain Capital and MBK Partners, as well as South Korea’s Netmarble Corp and Kakao Corp submitted binding bids for the parent of South Korean gaming company Nexon Co on Friday, Korea Economic Daily said, citing investment banking sources.

Representatives at Nexon, Kakao, Netmarble and MBK declined to comment.

Billionaire Jungju Kim is selling a 98.64 percent stake held by himself and his wife in NXC, the holding company of Nexon, in a deal that at potentially $16 billion, would rank as one of the biggest gaming deals worldwide.

Reporting by Hyunjoo Jin; Editing by Susan Fenton

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