CNPLUS Co., Ltd. cancelled the acquisition of 30% stake in CNPS Co., Ltd. from Hyungseok Choi, Chief Executive Officer of CNPS Co., Ltd.
October 24, 2019
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CNPLUS Co., Ltd. (KOSDAQ:A115530) agreed to acquire 30% stake in CNPS Co., Ltd. from Hyungseok Choi, Chief Executive Officer of CNPS Co., Ltd., for KRW 3 billion on October 24, 2018. The consideration will be paid in cash. Under the terms of the acquisition, 0.6 million shares will be acquired. For the year ended December 31, 2017, CNPS Co., Ltd. reported sales of KRW 4.2 billion and net profit of KRW 57 million. As of December 31, 2017, CNPS Co., Ltd. reported total assets of KRW 2.6 billion and total capital of KRW 939 million. The Board of Directors of CNPLUS Co., Ltd. passed a resolution on the transaction on October 24, 2018. The deal is expected to close on October 24, 2018. Serim Accounting Corporation acted as external rating institution.
CNPLUS Co., Ltd. (KOSDAQ:A115530) cancelled the acquisition of 30% stake in CNPS Co., Ltd. from Hyungseok Choi, Chief Executive Officer of CNPS Co., Ltd., on October 24, 2019.
CNPLUS Co., Ltd. is a Korea-based company mainly engaged in the manufacture of connectors. The Company manufactured electrical network and connect devices. It produces high precision connectors, such as top, bottom and double-sided contact connectors, micro fine pitch connectors, and pin connectors used for television modules, liquid crystal displays (LCDs), plasma display panels (PDPs), optical disk drives (ODDs) and others. The Companyâs main clients are Samsung SDI, Samsung Electronics, LG Innotek, HITACHI, Nidec, CHANGHONG, Sony Optiarc and others. The Company distributes its products within domestic market and to overseas markets. On December 26, 2012, the Company sold certain shares of a subsidiary, a Korea-based investment company. After the transaction, it held 40% stake of the Korea-based company.
CNPLUS CO., LTD. 
