NXC, Nexon’s holding company, will streamline its shareholding structure by directly acquiring Nexon shares it previously held indirectly through a wholly owned subsidiary.

NXC disclosed on June 22 that it will acquire 118,527,140 common shares of Nexon’s Japanese unit, representing 14.98 percent of voting rights, held by its Europe-based subsidiary NXMH B.V. for about 2.99 trillion won. The acquisition reference date is June 19.

The deal is being pursued to shift from an indirect holding structure via a subsidiary to a direct holding structure. The acquisition price was calculated based on a “normal price” determined by an external independent valuation firm as the price typically formed between independent parties without special relationships.

After the transaction is completed, NXC’s direct stake in Nexon will rise to 46.38 percent, or 366,989,940 shares, from 31.40 percent, or 248,462,800 shares. NXMH’s stake, as the seller, will be sharply reduced to 0.01 percent, or 1,151 shares, from 14.98 percent, and it will be removed from Nexon’s list of major shareholders.

Because NXMH is a wholly owned subsidiary of NXC, there will be no change in voting rights at the group level. The company said the deal will not affect Nexon’s management or performance.

An NXC official said the acquisition is part of the group’s financial strategy and is intended to improve efficiency in asset management and financial operations by unifying the ownership structure under direct holdings. The official added that the share purchase payment will be made using equity capital and overseas funds.