HT Investment Purpose Co., Ltd. cancelled the acquisition of 45.22% stake in Tapex Co., Ltd. from Carlyle Growth Korea III, a fund of The Carlyle Group LP (NasdaqGS:CG).
March 03, 2017
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HT Investment Purpose Co., Ltd. signed a memorandum of understanding to acquire 45.22% stake in Tapex Co., Ltd. from Carlyle Growth Korea III, a fund of The Carlyle Group LP (NasdaqGS:CG) on March 4, 2016. Hansol Chemical Co., Ltd. (KOSE:A014680), parent of HT Investment will acquire 1.93 million shares of Tapex Co., Ltd. Hansol Chemical Co., Ltd. was selected as the preferred bidder. As of May 19, 2016, stock purchase agreement was signed under which HT Investment Purpose Co., Ltd. will acquire 45.22% stake in Tapex Co., Ltd. from Carlyle Growth Korea III, a fund of The Carlyle Group LP (NasdaqGS:CG) for approximately KRW 130 billion. Part of the consideration representing 10% is to be paid as deposit of KRW 12.5 billion on May 20, 2016 and balance of KRW 112.5 billion will be paid within 5 business days after the approval of The Korea Fair Trade Commission. The deal is expected to close by May 30, 2016. Kim & Chang acted as legal advisor to Carlyle.
HT Investment Purpose Co., Ltd. cancelled the acquisition of 45.22% stake in Tapex Co., Ltd. from Carlyle Growth Korea III, a fund of The Carlyle Group LP (NasdaqGS:CG) on March 4, 2017.
Tapex Co., ltd. is a company principally engaged in the manufacture and distribution of tapes for electronic materials, packaging tapes and food packaging wraps. The Company operates its business through two segments. Electronic Material (EM) Segment is mainly engaged in the manufacture of secondary battery tapes, backing tapes for touch screen panel (TSP), optically clear adhesive, heat radiation tapes and protective tapes. Packaging Tape and Uni Wrap (TW) Segment is mainly engaged in the manufacture of oriented polypropylene tapes for packaging, low noise tapes, binding tapes and special tapes. The Company distributes its products within domestic market and to overseas markets.
HT Investment Purpose Co., Ltd. cancelled the acquisition of 45.22% stake in Tapex Co., Ltd. from Carlyle Growth Korea III, a fund of The Carlyle Group LP (NasdaqGS: CG).