Landing International Development (00582) said it agreed to acquire 50% of the issued share capital of Magical Gains Holdings Limited at KRW130,000 million (equivalent to about HK$864 million) from Genting Hong Kong (00678).
Subject to and upon completion, Landing will become the legal and beneficial owner of the entire issued share capital of Magical Gains, which, through its wholly-owned subsidiaries, owns and operates the casino operated by Grand Korea at Hyatt Regency Jeju Hotel.
Trading in shares of Landing International will be resumed this morning.
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