Biotoxtech Co., Ltd. acquired 40% stake in Biomix Co., Ltd. for KRW 8 billion.
October 16, 2017
Share
Biotoxtech Co., Ltd. (KOSDAQ:A086040) agreed to acquire 40% stake in Biomix Co., Ltd. for KRW 8 billion on October 16, 2017. As per terms, 24,000 shares will be acquired in cash. Out of the consideration, KRW 5.6 billion will be paid on October 16, 2017, KRW 1.2 billion on March 31, 2018 and balance KRW 1.2 billion on March 31, 2019. The consideration will be funded from retained funds. For the year ended December 31, 2016, Biomix Co., Ltd. reported total assets of KRW 2.04 billion, net assets of KRW 1.02 billion, sales of KRW 2.3 billion and net profit of KRW 410 million. The Board of Directors of Biotoxtech Co., Ltd. resolved the deal on October 16, 2017. The deal is expected to close on October 16, 2017. G-YUL Accounting Corporation acted as external rating institution.
Biotoxtech Co., Ltd. (KOSDAQ:A086040) completed the acquisition of 40% stake in Biomix Co., Ltd. on October 16, 2017.
Biotoxtech Co., Ltd. is a Korea-based company engaged in the research of non-clinical evaluation business. The Company provides safety evaluation research, efficacy evaluation research and analysis research. Its safety evaluation research business provides general toxicity tests, local toxicity tests, reproductive and development tests, genotoxicity tests, immunotoxicity tests, carcinogenicity tests, safety pharmacology tests, ecotoxicology tests, histopathology tests and hematology tests. Its efficacy evaluation research business provides efficacy evaluation of medical supplies, health supplements and cosmetics. Its analysis research business provides pharmacokinetics (PK) tests and toxicokinetics (TK) tests services, as well as validation and bio analysis services. On March 13, 2013, the Company acquired a 60% stake in its new established subsidiary.
BIOTOXTECH CO., LTD. 
