U&I Corporation completed the acquisition of DM Power Co., Ltd. from Kyungjin Kim and Deukil Jung.
December 26, 2017
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U&I Corporation (KOSDAQ:A056090) signed a contract to acquire DM Power Co., Ltd. from Kyungjin Kim and Deukil Jung for KRW 16 billion on December 4, 2017. Under the terms of the transaction, U&I Corporation will acquire 0.06 million shares representing 100% stake. On December 4, 2017, a deposit of KRW 1.6 billon will be paid as a part of first installment, KRW 4.8 billion will be paid as a part of second installment on December 8, 2017 and remaining balance of KRW 9.6 billion will be paid on December 29, 2017. As of December 26, 2017, the balance payment of KRW 9.6 billion will be paid on December 26, 2017. DM Power Co., Ltd. reported total assets of KRW 7.91 billion and total capital of KRW 6.81 billion as at December 31, 2016. DM Power Co., Ltd. reported sales of KRW 19.47 billion and net profit of KRW 2.11 billion during the financial year ended December 31, 2016. The transaction has been resolved by the Board of Directors of U&I Corporation. The transaction is expected to be completed on December 29, 2017. As of December 26, 2017, the transaction is expected to be completed on December 26, 2017. Nexia-Samduk acted as external rating institution under the transaction.
U&I Corporation (KOSDAQ:A056090) completed the acquisition of DM Power Co., Ltd. from Kyungjin Kim and Deukil Jung on December 26, 2017. The balance payment was completed on December 26, 2017.
Innosys Co Ltd, formerly EdisonInno Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of orthopedic medical devices. The Company operates its business through two segments. The Medical Device Business segment is engaged in the manufacture and sale of spinal fixation devices, micro-invasive medical devices for the treatment of back pain, fracture treatment devices, bioabsorbable alloy implants and other products. The Electric Energy Business segment is engaged in the manufacture and sale of electricity meters, integrated calorimeters and other products.