KODI CO., LTD signed a memorandum of understanding to acquire New Belle Co., Ltd. for KRW 2.7 billion.
July 05, 2018
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KODI CO., LTD (KOSDAQ:A080530) signed a memorandum of understanding to acquire New Belle Co., Ltd. for KRW 2.7 billion on April 19, 2018. KODI CO., LTD will acquire 0.06 million shares of New Belle Co., Ltd. Under the terms of the transaction, KODI CO., LTD will pay cash and 0.38 million shares as consideration. Out of total consideration, KRW 200 million was paid on April 19, 2018, KRW 1.15 billion will be paid on July 31, 2018, and remaining on the date both parties agrees on. For the year ended December 31, 2017, New Belle Co., Ltd. reported total assets of KRW 10.1 billion, total capital of KRW 499 million, sales of KRW 3.2 billion, and net loss of KRW 45 million. The transaction was resolved by the Board of KODI CO., LTD on July 5, 2018.
KODI Co.,LTD., formerly KODI-S CO.,LTD. is a Korea-based company principally engaged in the manufacturing of semiconductor testing equipment. The Company operates its business under two segments: display segment and energy segment. Its display segment mainly produces probe units and probe cards used for testing thin film transistor liquid crystal displays (TFT-LCDs), light emitting diodes (LEDs) and semiconductors, and organic light emitting diodes (OLEDs) manufacturing equipment. Its energy segment produces chargers, batteries and battery management systems (BMSs) for electrical vehicles, industrial vehicles, bicycles, autonomous guided vehicles (AGVs) and others. The Company mainly supplies its products to domestic market.