Kim Sang Jong and three related parties completed the acquisition of 25% stake in Hysonic Co., Ltd. from Moatech Co., Ltd..
March 14, 2014
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Kim Sang Jong and three related parties agreed to acquire 25% stake in Hysonic Co., Ltd. (KOSDAQ:A106080) from Moatech Co., Ltd. (KOSDAQ:A033200) for KRW 11.2 billion on March 7, 2014. The four individual investors include two management members of Hysonic. As reported, Moatech Co. will sell 2.66 million shares of Hysonic Co and will hold 0.91 million shares representing 8.67% stake in Hysonic after the transaction. The impact of the sale of Hysonic Co. on Minebea's consolidated operating results will be minor. The transaction is expected to be completed by March 25, 2014. Macquarie Capital acted as financial advisor to Minebea, parent of Moatech Co., Ltd.
Kim Sang Jong and three related parties completed the acquisition of 25% stake in Hysonic Co., Ltd. (KOSDAQ:A106080) from Moatech Co., Ltd. (KOSDAQ:A033200) on March 14, 2014.
HYSONIC Co., Ltd., formerly G2HYSONIC Co., Ltd., is a Korea-based company principally engaged in the manufacturing of auto focus (AF) actuators. The Company mainly manufactures precision micro miniature electro mechanical actuator products including AF actuators, optical image stabilizer actuators and smooth picture actuators for mobile handset camera application and optical application. The Company's customers include HUAWEI, Liteon, LG Innotek, CammSys Corp and others. It distributes its products within domestic market and to overseas markets.