An unknown buyer cancelled the acquisition of 80% in Bareundoor Co., Ltd. from Glosfer Labs Co., Ltd. on November 18, 2020.
November 17, 2020
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An unknown buyer agreed to acquire 80% in Bareundoor Co., Ltd. from Glosfer Labs Co., Ltd. (KOSDAQ:A032860) for KRW 13.1 billion on November 18, 2019. As per terms, 0.06 million shares will be acquired in cash. As per terms, KRW 1 billion is payable on November 18, 2019, KRW 6.1 billion on November 22, 2019 and balance KRW 6 billion on November 27, 2019. Post completion, Glosfer Labs Co., Ltd. will exit from Bareundoor Co., Ltd. For the year ended December 31, 2018, Bareundoor Co., Ltd. reported total assets of KRW 15.9 billion, net assets of KRW 8.8 billion, revenues of KRW 19.2 billion and net income of KRW 1.9 billion. The Board of Directors resolved the transaction on November 18, 2019. The deal is expected to close on November 27, 2019.
An unknown buyer cancelled the acquisition of 80% in Bareundoor Co., Ltd. from Glosfer Labs Co., Ltd. (KOSDAQ:A032860) on November 18, 2020.
The Lamy Co Ltd, formerly Human N Inc, is a Korea-based company principally engaged in the scrap distribution business. The Company operates its business through two segments. The Metal and Non-Metal Raw Material Recycling Business segment is engaged in the distribution business of iron scrap for steelmaking. The Resort segment is engaged in operation of resorts and hotels. The Company sells its products in domestic and foreign markets.