MOBASE Co.,Ltd. acquired 50.12% stake in Mobase Electronics Co., Ltd. from Seoyeon Co., Ltd. for KRW 23.5 billion.
September 01, 2019
Share
MOBASE Co.,Ltd. (KOSDAQ:A101330) acquired 50.12% stake in Mobase Electronics Co., Ltd. (KOSDAQ:A012860) from Seoyeon Co., Ltd. (KOSE:A007860) for KRW 23.5 billion on September 2, 2019. MOBASE will pay KRW 1740 per share. Out of total consideration, 50% of the purchase price will be received immediately after the conclusion of the contract and the remaining 50% will be received within one year from the date of the conclusion of the transaction. Seoyeon will dispose off all of its 13.5 million shares held by it in Mobase Electronics. Mortgage is set on real estate (land and building) of Mobase Co., Ltd. to secure 50% of the purchase price to be received within one year. Transaction was resolved by the Board of Seoyeon Co., Ltd.
MOBASE Co.,Ltd. (KOSDAQ:A101330) completed the acquisition of 50.12% stake in Mobase Electronics Co., Ltd. (KOSDAQ:A012860) from Seoyeon Co., Ltd. (KOSE:A007860) on September 2, 2019.
MOBASE ELECTRONICS CO.,LTD., formerly SEOYON ELECTRONICS CO., LTD., is a Korea-based company mainly engaged in the manufacture of automobile components. The Companyâs products mainly consist of key sets, switches and electronic units, such as car locks, multi-function switches, power windows switches, smart key systems, remote keyless entries, immobilizer systems, body control modules and others. In addition, the Company is engaged in the manufacturing of components for magnesium die castings and digital door locks (DDLs). The Company distributes its products within domestic market and to overseas markets, including Japan, America, Germany and the People's Republic of China.
MOBASE ELECTRONICS CO.,LTD. 