HFR, Inc. completed the acquisition of 19.4% in nTels Co., Ltd. from Jaehee Shim.
March 23, 2020
Share
HFR, Inc. (KOSDAQ:A230240) agreed to acquire 19.4% in nTels Co., Ltd. (KOSDAQ:A069410) from Jaehee Shim for KRW 26.5 billion on January 10, 2020. As per terms,1.3 billion shares will be acquired in cash. The consideration will be paid in two parts, KRW 2 billion on January 10, 2020 and balance in second. The Board of Directors of nTels Co., Ltd. resolved the transaction on January 10, 2020. The deal is expected to close on March 24, 2020.
HFR, Inc. (KOSDAQ:A230240) completed the acquisition of 19.4% in nTels Co., Ltd. (KOSDAQ:A069410) from Jaehee Shim on March 24, 2020. Youngrae Choi will be the new Chief Executive Officer of nTels, replacing Shim Jae-hee following the deal. The date of resolution of Board of Directors of nTels is March 24, 2020.
HFR, Inc., formerly Hana Financial Seventh Special Purpose Acquisition Company, is a Korea-based company mainly engaged in the manufacturing and distribution of telecommunication equipments. The Company manufactures and sells wired and wireless telecommunication equipments include cellular coverage systems, optical transport system, and fiber to the x (FTTx) Systems.
HFR, INC. 
