Brain Contents CO.,LTD. cancelled the acquisition of 70% stake in Swanicoco Co., Ltd. from consortium of sellers.
June 20, 2019 at 09:30 am IST
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Brain Contents CO.,LTD. (KOSDAQ:A066980) agreed to acquire 70% stake in Swanicoco Co., Ltd. from consortium of sellers for KRW 23.3 billion on June 20, 2018. Under the transaction, consideration will be paid in cash. Brain Contents CO.,LTD. acquires 0.15 million shares. Payment will be made in installments, a deposit of KRW 4 billion shall be paid on June 20, 2018, second payment of KRW 9 billion shall be paid on July 4, 2018 and remaining balance of KRW10.3 billion shall be paid on August 14, 2018. During the financial year December 2017, Swanicoco Co., Ltd. reported total assets of KRW 13.5 billion, net assets of KRW 12.1 billion, sales of KRW 18 billion and net profit of KRW 2.1 billion. The transaction has been resolved by the Board of Brain Contents CO.,LTD. The transaction is expected to be completed on August 14, 2018. As per the amendment report, the transaction is now expected to complete on July 25, 2018. Woori Accounting Corporation acted as External Rating Institution for Brain Contents CO.,LTD.
Brain Contents CO.,LTD. (KOSDAQ:A066980) cancelled the acquisition of 70% stake in Swanicoco Co., Ltd. from consortium of sellers on June 20, 2019.
Hansung Cleantech Co Ltd, formerly E& Corporation Co Ltd is a Korea-based company primarily engaged in the environmental facility construction business. The Company operates its business through four segments. The Environmental Facilities Construction segment is engaged in the operation of industrial water treatment business. The Environmental Equipment Business segment is engaged in the provision of environmental facility operation services such as sewage treatment plants and incineration facilities. The Liquid Designated Waste Business segment is engaged in the operation of industrial wastewater treatment industry. The Content Business segment is engaged in the provision of online lottery information services and webtoon services.