Imagine Asia Co., Ltd. completed the acquisition of an additional 57.14% stake in Sewon Co., Ltd. from Chungho ComNet Co., Ltd..
May 24, 2017
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Imagine Asia Co., Ltd. (KOSDAQ:A036260) agreed to acquire an additional 57.14% stake in Sewon Co., Ltd. (XKON:A234100) from Chungho ComNet Co., Ltd. (KOSE:A012600) for KRW 20 billion on May 24, 2017. Under the terms of the transaction, Imagine Asia Co., Ltd. will acquire an additional 0.16 million shares of Sewon Co., Ltd. Post-closing, Imagine Asia Co., Ltd. will hold 0.238 million shares, representing 85% stake in Sewon Co., Ltd. The Board of Directors of Imagine Asia Co., Ltd. resolved the deal on May 24, 2017.
Imagine Asia Co., Ltd. (KOSDAQ:A036260) completed the acquisition of an additional 57.14% stake in Sewon Co., Ltd. (XKON:A234100) from Chungho ComNet Co., Ltd. (KOSE:A012600) on May 25, 2017.
Sewon Co Ltd is a Korea-based company mainly engaged in the heating, ventilation and air conditioning (HAVC) related parts. The Company operates its business through three segments. The Automotive Air Conditioning Part segment is mainly engaged in the production and sale of air conditioning related parts such as header capacitors, radiator caps, evaporators and pipes. In addition, the segment also engaged in the production and sale of other auto parts such as wipers and seat motor brackets. The Synthetic Yarn segment is mainly engaged in the manufacture and sale of yarn for wigs. The Chemical segment is mainly engaged in the manufacture and sale of optical monomers.