BYON Co., Ltd. acquired Cosmetic Standard Co., Ltd. from Sangsun Jung and Myunghwan park for KRW 8 billion.
April 05, 2018
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BYON Co., Ltd. (KOSDAQ:A032980) agreed to acquire Cosmetic Standard Co., Ltd. from Sangsun Jung and Myunghwan Park for KRW 8 billion on April 5, 2018. Under the terms of the transaction, BYON Co., Ltd. will acquire 1 million shares. Out of total consideration, KRW 1.5 billion was deposited on March 29, 2018 and remaining will be paid on April 5, 2018. As a part of the transaction, KRW 4 billion will be paid in cash and remaining will be offset against issuance of 34th unregistered unguaranteed domestic private convertible bonds. Sangsun Jung and Myunghwan park will receive KRW 2.8 billion and KRW 1.2 billion in bonds. The bonds conversion period will start on April 5, 2019. For the year ended December 31, 2017, Cosmetic Standard Inc. reported total assets of KRW 6.5 billion, total capital of KRW 4.1 billion, sales of KRW 7.02 billion, and net profit of KRW 1.7 billion. The transaction was resolved by the Board of April 5, 2018. The transaction is expected to close on April 5, 2018.
BYON Co., Ltd. (KOSDAQ:A032980) completed the acquisition of Cosmetic Standard Co., Ltd. from Sangsun Jung and Myunghwan Park on April 5, 2018.
BYON Co., Ltd., formerly Polyvision Co., Ltd is a Korea-based company primarily engaged in the manufacture and distribution of industrial materials. The Company operates its business through three segments. Its Industrial Material segment manufactures tarpaulins, banner flexes and polyvinyl chloride (PVC) flooring materials, which are used for truck covers, roof covers, billboards, flags, container bags and house decoration tiles. Its Overseas Resources Development segment explores copper and molybdenum. Its Bio Medical segment sells medicines and medical equipment. The Company distributes its products within domestic market and to overseas markets.