Inscobee, Inc signed a contract to acquire the remaining 32.9% stake in INS Co., Ltd for KRW 1.1 billion.
February 20, 2018
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Inscobee, Inc (KOSE:A006490) signed a contract to acquire the remaining 32.8% stake in INS Co., Ltd for KRW 1.1 billion on February 20, 2018. The merger ratio for the transaction is 1.0000000: 0.3109155. Inscobee, Inc will issue 1.3 million shares as part of the transaction. Inscobee, Inc will continue to exist, and INS Co., Ltd will cease to exist. INS Co., Ltd had total assets of KRW 1.4 million, net liabilities of KRW 1.8 billion, revenue of KRW 2.1 billion and net profit of KRW 1.1 billion in 2017. The transaction has been resolved by the Board of Directors of Inscobee, Inc on February 20, 2018. As of March 30, 2018, the transaction is approved by the Board of Inscobee, Inc substituting the approval of the general meeting of shareholders. The transaction is expected to complete on May 2, 2018. Woori Accounting Corporation acted as External Rating Institution.
Inscobee, formerly Contents And Pepole, Logistics Energy company,.LTD, is a Korea-based company mainly engaged in the wristwatch, automobile and smart grid businesses. The Company mainly operates in five business divisions: wristwatch division provides wristwatch products, including sports watches and watches for gifts under the brand names Odin and Dolphin; automobile division engages in the marketing of used cars; digital division provides computers and peripherals; smart grid division engages in the provision of automatic meter infrastructure (AMI) systems, and distribution division engages in the distribution of beverages under the brand name Tipco. The Company distributes its products within domestic market and to overseas markets.
INSCOBEE., INC. 
