Advanced Digital Chips Inc. completed the acquisition of remaining 38.95% stake in KNC Korea Co., Ltd from Gun-Hee Bae and Geum-Jung Lee for KRW 1.3 billion.
KNC Korea Co., Ltd reported total assets of KRW 7.45 billion, total liabilities of KRW 5.67 billion, total capital of KRW 1.78 billion, capital of KRW 600 million, sales of KRW 6.71 billion and net profit of KRW 375 million as at September 30, 2015. The Board of Directors of Advanced Digital Chips Inc. passed a resolution for the transaction on December 8, 2015. The transaction is expected to complete on January 15, 2016. Jung Hyeon Accounting Corporation acted as the external valuation institution.
Advanced Digital Chips Inc. (KOSDAQ:A054630) completed the acquisition of remaining 38.95% stake in KNC Korea Co., Ltd from Gun-Hee Bae and Geum-Jung Lee on January 4, 2016.