Han, Moo-Geun, Chief Executive Officer of COCN Co., Ltd., agreed to acquire 60% stake in COCN Co., Ltd. from CNPLUS Co., Ltd. for KRW 1.8 billion.
December 22, 2012 at 11:00 pm
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Han, Moo-Geun, Chief Executive Officer of COCN Co., Ltd., agreed to acquire 60% stake in COCN Co., Ltd. from CNPLUS Co., Ltd. (KOSE:A115530) for KRW 1.8 billion on December 21, 2012. The transaction has been resolved by the Board of Directors of CNPLUS and is expected to close on December 26, 2012. The scheduled date for sale is the payment completion date.
CNPLUS Co., Ltd. is a Korea-based company mainly engaged in the manufacture of connectors. The Company manufactured electrical network and connect devices. It produces high precision connectors, such as top, bottom and double-sided contact connectors, micro fine pitch connectors, and pin connectors used for television modules, liquid crystal displays (LCDs), plasma display panels (PDPs), optical disk drives (ODDs) and others. The Companyâs main clients are Samsung SDI, Samsung Electronics, LG Innotek, HITACHI, Nidec, CHANGHONG, Sony Optiarc and others. The Company distributes its products within domestic market and to overseas markets. On December 26, 2012, the Company sold certain shares of a subsidiary, a Korea-based investment company. After the transaction, it held 40% stake of the Korea-based company.
CNPLUS CO., LTD. 
