Sunjin Co.,Ltd. cancelled the acquisition of Sunjin Vina Co., Ltd.
November 26, 2019
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Sunjin Co.,Ltd. (KOSE:A136490) agreed to acquire Sunjin Vina Co., Ltd for KRW 21.7 billion on November 27, 2018. As per the terms, consideration will be payable in cash. As on December 31, 2017, Sunjin Vina reported total assets of KRW 30.9 billion, total capital of KRW 9 billion, sales of KRW 52.4 billion and net profit of KRW 1.2 billion. Resolution of board of directors of Sunjin Co.,Ltd. was passed on November 27, 2018. The transaction is expected to be completed on November 28, 2018. As on November 28, 2018, the expected closing date was amended from November 28, 2018 to December 31, 2018. As on December 28, 2018, the expected closing date was amended from December 31, 2018 to March 31, 2019. As on March 29, 2019, the expected closing date was amended from March 31, 2019 to April 30, 2019. As on April 29, 2019, the expected closing date was amended from April 30, 2019 to June 30, 2019.
Sunjin Co.,Ltd. (KOSE:A136490) cancelled the acquisition of Sunjin Vina Co., Ltd on November 27, 2019.
SUNJIN CO., LTD. is a Korea-based company engaged in the manufacturing of formula animal feeds and processed meat. The Company operates its business through two segments: animal feed segment and processed meat segment. Its animal feed segment is involved in the manufacture and distribution of formula feeds and feedstuffs for pigs, chickens, dogs and cattle. Its processed meat segment is involved in the provision and distribution of pork. The Company's clients include Hyundai Department Store, Lotte Department Store and Homeplus. The Company mainly distributes its products within domestic market.
SUNJIN CO.,LTD. 
