SBW, Inc. and KANGLIM Co., Ltd. cancelled the acquisition of 65% stake in Nanos Co., Ltd/
September 12, 2017
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SBW, Inc. (KOSE:A102280) and KANGLIM Co., Ltd. (KOSDAQ:A014200) agreed to acquire 65% stake in Nanos Co., Ltd. for KRW 34.5 billion on September 12, 2016. SBW, Inc. and KANGLIM Co. are selected as preferred bidder. SBW, Inc. and KANGLIM Co., Ltd. signed a memorandum of understanding to acquire 65% stake in Nanos Co., Ltd. on September 21, 2016. As of October 17, 2016, SBW will acquire 17.3 million shares for KRW 8.65 billion and KANGLIM will acquire 51.7 million shares for KRW 25.85 billion. The deal is subject to court approval. On November 16, 2016, KANGLIM Co., Ltd. amended the expected closing of its acquisition from November 30, 2016 to December 7, 2016. As of December 7, 2016, SBW, Inc. (KOSE:A102280) amended the expected closing date from December 7, 2016 to December 14, 2016.
SBW, Inc. (KOSE:A102280) and KANGLIM Co., Ltd. (KOSDAQ:A014200) cancelled the acquisition of 65% stake in Nanos Co., Ltd. on September 12, 2017.
KANGLIM Co., Ltd is a Korea-based company mainly engaged in the manufacture and distribution of special vehicles and cranes. The Company operates its business in two divisions: special purpose vehicle division, which produces fire fighting trucks such as fire pumpers, chemical fire fighting trucks, water tank fire trucks, rescue trucks and others, environmental work vehicles such as road sweepers, high pressure water spray trucks, garbage compactors and others, and electrical work vehicles such as mobile generator trucks, auger cranes and others, as well as crane division, which produces stick boom cranes and knuckle boom cranes under the brand names of KS, KN and others. The Company distributes its products within domestic market and to overseas markets.
KANGLIM CO., LTD 
