KAHEE Co., LTD cancelled the acquisition of remaining 22.78% stake in Digiworks Co., Ltd.
May 18, 2017
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KAHEE Co., LTD (KOSDAQ:A030270) agreed to acquire remaining 22.78% stake in Digiworks Co., Ltd. for KRW 3.4 billion on May 19, 2016. Under the terms of the deal, 1.02 million shares will be acquired. Pre deal, KAHEE Co., LTD held 77.2% stake and post deal, it will hold 100% stake in Digiworks Co., Ltd. Digiworks Co., Ltd. reported revenues of KRW 107 million, total assets of KRW 1.7 billion, total stockholders’ equity of KRW 1.7 billion and net loss of KRW 529 million in 2015. The resolution date of Board of Directors of KAHEE Co., LTD is May 19, 2016. The scheduled acquisition date is May 19, 2016.
KAHEE Co., LTD (KOSDAQ:A030270) cancelled the acquisition of remaining 22.78% stake in Digiworks Co., Ltd. on May 19, 2017.
SMARK CO., LTD, formerly KAHEE CO., LTD is a Korea-based company engaged in the manufacture and distribution of yarns. The Company produces cotton yarns, combed cotton yarns, blended yarns, slub yarns, core yarns and compact yarns for knitting, weaving and industrial uses. It also provides ring combed cotton yarns, ring slub yarns, stretch core spun yarns and others. The Company operates Gaju mills and Sinni mills with open ended spinners, which are also known as air spinnings, as well as ring spinners. The Company distributes its products within domestic market and to overseas markets.
KAHEE CO., LTD. 
