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Kakao, Netmarble, PE firms file binding bids for South Korean game developer NXC

Fives companies submitted binding offers for South Korea-based NXC Corp., the holding company of online and mobile gaming publisher NEXON Co. Ltd., Reuters reported May 31, citing Korea Economic Daily.

The bidders included private equity firms KKR & Co., Bain Capital LP and MBK Partners, as well as South Korea's Kakao Corp. and mobile gaming company Netmarble Corp.

Nexon founder Kim Jung-ju and his wife are selling a 98.64% stake held by them in NXC. According to Reuters, NXC could sell for nearly $16 billion in one of the biggest deals in the video game industry.