Shanghai Wobi Investment & Advisory Corporation signed a memorandum of understanding to acquire 6.4% stake in Castec Korea Co.,Ltd from group of sellers for KRW 8.8 billion.
May 15, 2018
Share
Shanghai Wobi Investment & Advisory Corporation signed a memorandum of understanding to acquire 6.4% stake in Castec Korea Co.,Ltd (KOSDAQ:A071850) from group of sellers for KRW 8.8 billion on May 9, 2018. Under the terms, Shanghai Wobi Investment & Advisory Corporation will acquire 0.92 million shares of Castec Korea Co.,Ltd at KRW 9,500 per share. Earlier, Shanghai Wobi Investment & Advisory Corporation agreed to acquire 1.4 million shares of Castec Korea Co.,Ltd at KRW 11, 000 per share. Upon completion of the aforementioned transactions, Shanghai Wobi Investment & Advisory Corporation will hold 16.12% stake in Castec Korea Co.,Ltd. Deal is expected to close by July 23, 2018 or such other date as decided by the parties.
CASTEC KOREA CO.,LTD is a Korea-based company principally engaged in the manufacture and distribution of automobile parts. The Companyâs products portfolio consists of turbo charger system parts, such as turbine housings and center housings, air conditioner compressor parts, electrical parts, such as scroll and rotary parts, cylinders, main bearings, cranks shafts and others, automotive parts, pump and motor parts, as well as other automobile parts, such as braking disks, caliper housing, knuckles and others. It distributes its products within domestic market and to overseas markets.
Shanghai Wobi Investment & Advisory Corporation signed a memorandum of understanding to acquire 6.4% stake in Castec Korea Co.,Ltd from group of sellers for KRW 8.8 billion.
CASTEC KOREA CO.,LTD 
