JS Corporation completed the acquisition of Yakjin Trading Corporation from Carlyle Asia Growth Partners IV, L.P., managed by The Carlyle Group Inc. (NasdaqGS:CG) and Cho Yong-ro.
August 24, 2020
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JS Corporation (KOSE:A194370) agreed to acquire Yakjin Trading Corporation from Carlyle Asia Growth Partners IV, L.P., managed by The Carlyle Group Inc. (NasdaqGS:CG) and Cho Yong-ro for KRW 14.3 billion on August 21, 2020. As part of the acquisition, JS Corporation will acquire 19.4 million shares of Yakjin Trading Corporation. JS Corporation will acquire 70% stake of Yakjin Trading Corporation from Carlyle Asia Growth Partners IV, L.P. and 30% stake of Yakjin Trading Corporation from Cho Yong-ro. After the acquisition completed, Yakjin Trading Co., Ltd. will be a major subsidiary of JS Corporation. As of December 31, 2019, Yakjin Trading Corporation has a total assets of KRW 317.9 billion, total equity of KRW 89.3 billion, total sales of KRW 556 billion and net income of KRW 1.03 billion. The transaction is expected to close on August 25, 2020.
JS Corporation (KOSE:A194370) completed the acquisition of Yakjin Trading Corporation from Carlyle Asia Growth Partners IV, L.P., managed by The Carlyle Group Inc. (NasdaqGS:CG) and Cho Yong-ro on August 25, 2020.
JS Corporation is a Korea-based company primarily engaged in the manufacture and distribution of fashion products. The Company provides handbags under the brands of BURBERRY, KATE SPADE, GUESS, MICHAEL KORS, DKNY, HENRI BENDEL, RALPH LAUREN and EVERLANE as well as handbag materials. In addition, the Company also involves in the real estate leasing business. The Company distributes its products within domestic market and to overseas markets. The Company merged its subsidiary CHO LTD. on September 30, 2014.
JS Corporation completed the acquisition of Yakjin Trading Corporation from Carlyle Asia Growth Partners IV, L.P., managed by The Carlyle Group Inc. (NasdaqGS: CG) and Cho Yong-ro.