The closure of the Bithumb deal is being delayed.
In its public notice Monday, Vidente, one of Bithumb’s major shareholders, announced that the handover date of Bithumb’s shares had been changed from March 31 to Sept. 30. Vidente, which is holding 350 shares of BTC Holding Company, is in the process of selling them to BTHMB Holdings. BTC Holding Company is the controlling shareholder of BTC Korea.com, the operator of Bithumb, with a 75.99% stake.
BK Consortium, led by BK Group Chairman Kim Byung-kun, signed a contract to acquire 50% plus one share of BTC Korea.com last October. The down payment was made Nov. 21 and the intermediate payment was made Dec. 28.
But the remainder, which had been scheduled for late March, was not paid and the schedule has been delayed to Sept. 30. BK Consortium said, “The schedule had been changed because of the need to readjust the payment structure of consortium members and stakes.”
Meanwhile, BK Consortium also agreed to expand its acquisition stake from 50% plus one share to 70%. Industry watchers say more time will be necessary to discuss this. At the same time, BK Consortium will need more time to prepare for more funds to take over the increased stake. /firstname.lastname@example.org
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