Samra Co. Ltd. agreed to acquire 30% stake in Ulsan Broadcasting Corp. from Korea Flange Co., Ltd. for KRW 20 billion.
November 05, 2018
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Samramidas Co. Ltd. agreed to acquire 30% stake in Ulsan Broadcasting Corp. from Korea Flange Co., Ltd. (KOSE:A010100) for KRW 20 billion on November 5, 2018. Samramidas will acquire 1.8 million shares in Ulsan Broadcasting in cash. As of November 9, 2018, Samramidas Co. Ltd. transferred the status, rights and obligations as the buyer to Samra Co. Ltd. As part of the consideration, 10% of the amount will be paid on November 5, 2018 and the remaining amount will be paid on the closing date. For the year ending December 31, 2017, Ulsan Broadcasting reported total capital of KRW 54.3 billion, total assets of KRW 58.9 billion, sales of KRW 21.4 billion and net loss of KRW 1.3 billion. The Board of Directors of Korea Flange resolved the transaction.
Korea Movenex Co Ltd, formerly Korea Flange Co Ltd, is a Korea-based company primarily engaged in the manufacture and sale of automotive parts. The Company operates its business through three segments. The Automotive Parts Business segment is engaged in the manufacture and sale of products such as half shafts, front axle assemblies, rear axles, brake assemblies, crankshafts, connecting rods and fixed speed joints. The Flange Business segment is engaged in the manufacture and sale of products such as welding neck flanges, slip-on flanges and socket welding flanges. The Industrial Machinery Business segment is engaged in the manufacture and sale of products such as ship engine parts.
KOREA MOVENEX CO., LTD. 
