KANGLIM Co., Ltd. completed the acquisition of 58.9% in Namyeung Vivien Corporation from a group of shareholders.
January 20, 2020
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SBW, Inc. (KOSE:A102280) and KANGLIM Co., Ltd. (KOSDAQ:A014200) won the bid to acquire 58.9% in Namyeung Vivien Corporation (KOSE:A002070) from a group of shareholders for KRW 53.8 billion on October 23, 2019. On November 13, 2019, a contract is signed as per which KANGLIM Co., Ltd. will acquire the 58.9% stake and SBW, Inc. exited from the transaction. As per terms, 4.05 million shares will be acquired for KRW 13,300 in cash. Down payment of KRW 5.38 billion is done on November 13, 2019 and balance will be paid on December 27, 2019. As on December 27, 2019 KANGLIM acquired 1.6 million shares for KRW 19.6 billion and balance of 2.4 million shares for KRW 28.9 billion would be acquired by January 23, 2020. One of the sellers is Chairman of Namyeung Vivien Corporation, Nam Seok-woo who currently holds 23.8% stake. KANGLIM Co., Ltd. will also divest 35.1% stake in Namyeung Vivien Corporation to four financial investors. The Board of Directors resolved the deal on November 13, 2019. The transaction is expected to close on December 27, 2019. The transaction is expected to close on January 23, 2020. Daehyeon Accounting Corporation acted as External Evaluation Body.
KANGLIM Co., Ltd. (KOSDAQ:A014200) completed the acquisition of 58.9% in Namyeung Vivien Corporation (KOSE:A002070) from a group of shareholders on January 21, 2020. As January 21, 2020, 2.4 million share for KRW 28.9 billion has been acquired.
KANGLIM Co., Ltd is a Korea-based company mainly engaged in the manufacture and distribution of special vehicles and cranes. The Company operates its business in two divisions: special purpose vehicle division, which produces fire fighting trucks such as fire pumpers, chemical fire fighting trucks, water tank fire trucks, rescue trucks and others, environmental work vehicles such as road sweepers, high pressure water spray trucks, garbage compactors and others, and electrical work vehicles such as mobile generator trucks, auger cranes and others, as well as crane division, which produces stick boom cranes and knuckle boom cranes under the brand names of KS, KN and others. The Company distributes its products within domestic market and to overseas markets.
KANGLIM CO., LTD 
