Ariel Partners Co., Ltd. signed a contract to acquire 6.54% stake in PharmswellBio Co., Ltd. from Diorpharm Co., Ltd. and Youngjin Jang for KRW 8 billion.
November 26, 2018
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Ariel Partners Co., Ltd. signed a contract to acquire 6.54% stake in PharmswellBio Co., Ltd. (KOSDAQ:A043090) from Diorpharm Co., Ltd. and Youngjin Jang for KRW 8 billion on November 27, 2018. As consideration, a down payment of KRW 800 million shall be made on contract signing date, Diorpharm and Youngjin Jang will receive approximately KRW 550 million and approximately KRW 250 million respectively for 0.17 million shares. Second payment of KRW 3.2 billion shall be paid on December 4, 2018, Diorpharm and Youngjin Jang will receive KRW 2.2 billion and KRW 1 billion respectively for 0.7 million shares. Remaining balance shall be paid on shareholders meeting date, Diorpharm and Youngjin Jang will receive KRW 2.7 billion and KRW 1.3 billion respectively for 0.87 million shares. Under the transaction, Diorpharm and Youngjin Jang will sale 1.2 million shares and 0.55 million shares respectively. Post transfer, Diorpharm Co., Ltd. and Youngjin Jang will not hold any stake in PharmswellBio Co., Ltd. The transaction is expected to be completed by January 25, 2019.
The Technology Co Ltd, formerly Exergy21 Co Ltd, is a Korea-based company mainly engaged in the distribution business. The Company manly operates its business through four segments. The Distribution Business segment engages in the food processors, luxury goods, healthy food, kitchen appliances and home shopping goods distribution business. The PM business segment provides consulting services for real estate development, licensing, and contractor selection. The Pharmaceutical segment engages in ethanol and disinfectant manufacture business. The Other segment provides business support services. The Company also engages in information technology (IT) services, artificial intelligence (AI) and drone based security solutions, as well as heat pump system provision business.
Ariel Partners Co., Ltd. signed a contract to acquire 6.54% stake in PharmswellBio Co., Ltd. from Diorpharm Co., Ltd. and Youngjin Jang for KRW 8 billion.