POBIS TNC CO., Ltd and Mirae Corporation completed the acquisition of 29.85% stake in IokCompany Co., Ltd. from W Holding Company Co., Ltd., Young Sik Won, Sujin Kang and Sung Joon Won.
September 23, 2020
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POBIS TNC CO., Ltd (KOSDAQ:A016670) and Mirae Corporation (KOSE:A025560) agreed to acquire a 29.85% stake in IokCompany Co., Ltd. (KOSDAQ:A078860) from W Holding Company Co., Ltd. (KOSDAQ:A052300), Young Sik Won, Sujin Kang and Sung Joon Won for KRW 85 billion on August 6, 2020. Under the terms, the buyers will acquire 10.9 million shares from W Holding Company, 2.1 million shares from Young Sik Won, 2.4 million shares from Soo Jin Kang and 4.2 million shares from Sung Joon Won. As on September 24, 2020, POBIS TNC CO., Ltd will acquire 17.1 million shares from W Holding Company Co., Ltd., Young Sik Won and Sung Joon Won for KRW 74.6 billion and Mirae will acquire 2.4 million shares at a price per share of KRW 4355.82. The consideration of KRW 8.5 billion was paid as down payment on August 6, 2020 and the remaining balance will be paid on completion. Post completion, W Holding Company will hold 9.38% stake, POBIS TNC will hold 29.85% stake and other sellers will not hold any stake in IokCompany. The transaction is expected to completed on September 24, 2020. Grant Thornton Daejoo Korea acted as accountant to Mirae Corporation.
POBIS TNC CO., Ltd (KOSDAQ:A016670) and Mirae Corporation (KOSE:A025560) completed the acquisition of 29.85% stake in IokCompany Co., Ltd. (KOSDAQ:A078860) from W Holding Company Co., Ltd. (KOSDAQ:A052300), Young Sik Won, Sujin Kang and Sung Joon Won on September 24, 2020. As a part of the transaction, on September 24, 2020, Mirae Corporation completed the acquisition of 2.4 million shares from Sujin Kang for KRW 10.4 billion. The balance deposit of KRW 47.3 billion was also paid on September 24, 2020.
CT Property Co Ltd, formerly Chorokbaem Company Co Ltd, is a Korea-based company mainly engaged in the broadcasting businesses. The Company operates its business through nine segments. The Restaurant Business segment provides restaurant operation, convenience food development and sales services. The Management Business segment provides entertainment services. The Broadcasting Program Business segment provides broadcasting and video production services. The Glass Business segment sales architectural plate glass, windows, and sealants. The Chemical Business segment provides services for producing lithium ion batteries and lithium ion polymer batteries related to lithium secondary batteries. The Real Estate Rental Business segment engages in the building rental businesses. The Broadcasting Channel Business segment provides broadcasting program planning, production and sales services. The Investment Business segment engages in investment business and investment consulting businesses.
POBIS TNC CO., Ltd and Mirae Corporation completed the acquisition of 29.85% stake in IokCompany Co., Ltd. from W Holding Company Co., Ltd., Young Sik Won, Sujin Kang and Sung Joon Won.
CT PROPERTY CO., LTD. 