Kyung Dong Navien Co., Ltd. Ltd entered into a letter of intent to acquire Kyungdong Electronics Co., Ltd.
August 14, 2020
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Kyung Dong Navien Co., Ltd. (KOSE:A009450) Ltd entered into a letter of intent to acquire Kyungdong Electronics Co., Ltd. on August 14, 2020. Kyung Dong Navien Co., Ltd agreed to acquire Kyungdong Electronics Co., Ltd. on September 28, 2020. The merger ratio is 1: 2.1630521. For the year ended December 31, 2019, Kyungdong Electronics Co., Ltd reported total assets of KRW 19.9 billion, net assets of KRW 7.7 billion and net income of KRW 46.2 billion. The merger contract will be signed on August 28, 2020. The Board of Directors passed resolution on August 14, 2020. As of September 28, 2020, the transaction was approved by the Board of Kyung Dong Navien Co., Ltd. Transaction is expected to close on November 1, 2020. Shinhan Accounting Corporation acted as accountant for Kyungdong Electronics Co., Ltd.
Kyung Dong Navien Co Ltd is a Korea-based company mainly engaged in the manufacturing and distribution of boilers. The Companyâs products portfolio consists of boilers for home use such as condensing boilers, conventional boilers, combined oil boilers, stainless steel oil and gas boilers; water heaters such as condensing residential water heaters and electric storage water heaters, and others such as zone control systems, stirring engines, air conditioners, dryers, ventilation systems, home network systems and fan coils. The Company distributes its products in domestic and overseas markets such as China, Russia, Central and South America, North America and others.
KYUNG DONG NAVIEN CO., LTD. 
