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Nexon to increase stake in Sweden's Embark Studios

Nexon Co. Ltd. said it is increasing its stake in Embark Studios AB to 72.8% from 66.1%, BusinessKorea reported Aug. 5.

Nexon, which trades publicly on the Tokyo Stock Exchange, also announced that it will have the option to fully purchase the remaining shares of the Swedish company through Nexon stock over a five-year period, according to the report.

Nexon's shareholders are expected to ratify the acquisition of the additional shares at the extraordinary shareholder meeting scheduled in September.