Wemade’s 920 billion won sell-off pushed back to December

What happened: The planned 920 billion won takeover of Wemade was delayed by two months. A consortium backed by Chinese game company Kingnet postponed payment of the remaining 828 billion won, pushing the closing date to December 30 from October 30. Key numbers: 920 billion won ($688 million) deal value; Why it matters: The postponement raises questions over regulatory approvals in China and the consortium's funding for the acquisition. Kingnet previously told Chinese regulators there was uncertainty over whether and when the investment would obtain necessary permits, approvals and filings.

The planned 920 billion won takeover of Wemade was delayed by two months. A consortium backed by Chinese game company Kingnet postponed payment of the remaining 828 billion won, pushing the closing date to December 30 from October 30.

The postponement raises questions over regulatory approvals in China and the consortium's funding for the acquisition. Kingnet previously told Chinese regulators there was uncertainty over whether and when the investment would obtain necessary permits, approvals and filings.