Benoholdings, Inc. completed the acquisition of an additional 11.7% minority stake in Tamul Multimedia Co., Ltd from Wooriro Co., Ltd.
October 11, 2021
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Benoholdings, Inc. (KOSDAQ:A206400) signed a contract to acquire an additional 11.7% minority stake in Tamul Multimedia Co., Ltd (KOSDAQ:A093640) from Wooriro Co., Ltd (KOSDAQ:A046970) for KRW 15 billion on August 26, 2021. Benoholdings, Inc. will acquire 1.7 million shares and pay KRW 8900 per share. Under the terms of the transaction, Benoholdings, Inc. will make a down payment of KRW 1.5 billion, an interim payment of KRW 3 billion on September 6, 2021 and balance payment of KRW 10.6 billion will be made on October 12, 2021. Post-closing, Benoholdings, Inc. will hold 2.42 million shares amounting to 18.41% stake and Wooriro Co., Ltd will not hold any stake in Tamul Multimedia Co., Ltd. The transaction shall be funded through already held funds. The Board of Directors of Benoholdings, Inc. passed a resolution for the transaction on August 26, 2021. The scheduled change date of the transaction is October 12, 2021. Sunghyun Accounting Firm acted as the external auditor in the transaction.
Benoholdings, Inc. (KOSDAQ:A206400) completed the acquisition of an additional 11.7% minority stake in Tamul Multimedia Co., Ltd (KOSDAQ:A093640) from Wooriro Co., Ltd (KOSDAQ:A046970) on October 12, 2021. Remaining consideration was paid on October 12, 2021.
Beno TNR Inc, formerly BenoHoldings Inc, is a Korea-based company engaged in the construction business. The Company engages in the development, design, and construction of awning systems and radiant heating and cooling systems in the interior construction industry.