Solueta Co., Ltd. completed the acquisition of DMC Co. Ltd. from DASAN Networks, Inc., Dasan Invest Co., Ltd., Samuel Ko and DalSuk Shin.
December 31, 2016
Share
Solueta Co., Ltd. (KOSDAQ:A154040) agreed to acquire DMC Co. Ltd. from DASAN Networks, Inc. (KOSDAQ:A039560), Dasan Invest Co., Ltd., Samuel Ko and DalSuk Shin for KRW 28.9 billion in cash on March 29, 2016. Under the transaction, Solueta will acquire 0.65 million shares of DMC, with DASAN Networks selling 45.5% stake for KRW 13.16 billion, Dasan Invest selling 35.5% for KRW 10.28 billion, Samuel Ko selling 10% stake for KRW 2.9 billion and DalSuk Shin 9% stake for KRW 2.61 billion. Funds for the transaction will be raised by Solueta through strategic investment promotion. The transaction was resolved by the Board of Solueta and is expected to close on April 7, 2016.
Solueta Co., Ltd. (KOSDAQ:A154040) completed the acquisition of DMC Co. Ltd. from DASAN Networks, Inc. (KOSDAQ:A039560), Dasan Invest Co., Ltd., Samuel Ko and DalSuk Shin in 2016.
Dasan Solueta Co Ltd, formerly Solueta Co Ltd, is a Korea-based company primarily engaged in the manufacture and sale of automotive parts. The Company operates its business through three segments. The Automobile Parts segment is engaged in the manufacture and sale of products such as anti-vibration rubber, air hose, weather strip and damping bush. The Electromagnetic Wave Shielding Material segment is engaged in the manufacture and sale of products such as conductive tapes, conductive cushions and radio wave absorbers. The Filter segment is engaged in the manufacture and sale of melt blown filters.