Bubang Co., Ltd. completed the acquisition of the remaining 54.18% stake in Cuchen Co., Ltd..
September 16, 2019
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Bubang Co., Ltd. (KOSDAQ:A014470) signed an agreement to acquire remaining 54.18% stake in Cuchen Co., Ltd. (KOSDAQ:A225650) for KRW 9.7 billion on June 14, 2019. Under the terms of the transaction, Bubang will issue its 1 share for 2.20782 shares of Cuchen. On completion, Cuchen will become a non-listed subsidiary of Bubang. Transaction was resolved by the Board of Directors of Bubang. As of July 26, 2019, shareholders of Cuchen Co., Ltd. has approved the transaction. Transaction is expected to close on August 27, 2019.
Bubang Co., Ltd. (KOSDAQ:A014470) completed the acquisition of the remaining 54.18% stake in Cuchen Co., Ltd. (KOSDAQ:A225650) on September 16, 2019.
Cuchen Co., Ltd. is a Korea-based company principally engaged in manufacturing household appliances. The Company's product portfolio consists of kitchen appliances including mechanical cookers, micom cookers, IH pressure cookers, pressure steam cookers, electric grills, induction cooktops, electric blenders, electric kettles, dish dryers, slow juicers; home appliances including vacuum cleaner and steam cleaner and seasonal appliances including air washers and humidifier.