FMS co., Ltd signed a contract to acquire DM Bio from Dongseup Kim and Jonghak No for approximately KRW 880 million.
April 24, 2018
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FMS co., Ltd (XKON:A278990) signed a contract to acquire DM Bio from Dongseup Kim and Jonghak No for approximately KRW 880 million on April 25, 2018. Under the terms of transaction, FMS co., Ltd will issue 2.67108 new shares for every one shares of DM Bio. FMS co., Ltd will issue 0.21 million new shares. Upon completion, DM Bio will be dissolved and FMS co., Ltd will be the surviving company. For the year ended December 31, 2017, DM Bio had total assets of KRW 1.3 billion, net assets of KRW 854.2 million, sales of KRW 500.6 million and net profit of KRW 286.6 million. The head office of FMS co., Ltd will change from 76, Deokcheon-ro 72beon-gil, Manan-gu, Anyang-si, Gyeonggi-do, Republic of Korea to 38, Deokcheon-ro, Manan-gu, Anyang-si, Gyeonggi-do, Republic of Korea. The transaction was approved by the Board of Directors of FMS co., Ltd at the meeting held on May 25, 2018. The transaction is expected to be completed by June 30, 2018.
EMB Co Ltd, formerly Fine EM Tech Co Ltd, is a Korea-based company principally engaged in the manufacture and installation of energy storage systems (ESS). The Company operates its business through three segments. The ESS Business segment manufactures and installs energy storage systems linked to photovoltaic power generations. The Accessories Business segment manufactures mobile products including mobile phone protective cases and screen protective films. The Pharmaceutical Business segment manufactures and sells disinfectants for hospitals.