Home Center Holdings Co., Ltd. signed a contract to acquire Jeil Joung Hap Remicon Ltd. from Sungbo Co., Ltd. and Junghyun Kim. for KRW 6.4 billion.
August 18, 2017
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Home Center Holdings Co., Ltd. (KOSDAQ:A060560) signed a contract to acquire Jeil Joung Hap Remicon Ltd. from Sungbo Co., Ltd. and Junghyun Kim for KRW 6.4 billion on August 18, 2017. The transfer ratio for the transaction is 1: 30.9807834. Upon completion of this share exchange, Home Center Holdings Co., Ltd. and Jeil Joung Hap Remicon Ltd. will remain independent corporations. Jeil Joung Hap Remicon had total assets of KRW 8.4 billion and total capital of KRW 5.2 billion of the recent financial year 2016. The transaction has been resolved by the Board of Directors of Home Center Holdings Co., Ltd. on August 18, 2017. The general meeting of shareholders of Home Center Holdings Co., Ltd. will take place on September 19, 2017. The transaction is expected to complete on September 19, 2017. Sungmoon Accounting Corporation acted as External Rating Institution.
Home Center Holdings Co.,Ltd, formerly Home Center Co., Ltd, is a Korea-based Company principally engaged in the manufacture and distribution of construction materials. The Company mainly produces construction materials, such as tiles, washstands, sinks, ready mixed concrete and other related products. The Company is also engaged in the construction of ventilation equipment, heating and cooling facilities, kitchen and sanitary and other related facilities. The Company is also engaged in the construction of leisure sports related equipment, including fitness centers, swimming pools, saunas and others.