Monster Worldwide, Inc. (NYSE:MWW) announced today the completion of the sale of its remaining 50.01% ownership position in its South Korean operation, JobKorea, to H&Q Korea for approximately $85 million. The agreement for this sale was announced in September 2015. The sale of Monster's remaining stake in the operation is consistent with Monster's continued strategy of unlocking value and sharpening its focus on its core online recruitment platform.
The Company has historically consolidated the results of JobKorea. For its third and fourth quarter 2015 financial statements, the Company will present JobKorea's financial results as a discontinued operation. The financial impact to net income from continuing operations for the third quarter of 2015 related to JobKorea is expected to be $0.01 per share.
About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW) is a global leader in connecting people to jobs, wherever they are. For more than 20 years, Monster has helped people improve their lives with better jobs, and employers find the best talent. Today, the company offers services in more than 40 countries, providing some of the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities. Monster continues its pioneering work of transforming the recruiting industry with advanced technology using intelligent digital, social and mobile solutions, including our flagship website monster.com® and a vast array of products and services. For more information visit http://monster.com/about.
