SAMBO MOTOS Co,.Ltd. and an unknown buyer cancelled the acquisition of Plakor Corporation and 73.43% stake in Najeon Co.,Ltd. from ARRK Corporation.
October 25, 2013 at 09:30 am IST
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SAMBO MOTOS Co,.Ltd. (KOSE:A053700) and an unknown buyer agreed to acquire Plakor Corporation and 73.43% stake in Najeon Co.,Ltd. from ARRK Corporation (TSE:7873) on October 25, 2012. SAMBO MOTOS Co,.Ltd. was selected as the final preferred bidder as it participated in the tender for the acquisition of Plakor Corporation and Najeon Co.,Ltd. ARRK Corporation is selling 6.06 million shares of Plakor Corporation representing 100% stake and 2.3 million shares of Najeon Co.,Ltd. representing 73.43% stake. SAMBO MOTOS Co,.Ltd. is acquiring 57.14% stake in Plakor Corporation and 73.43% stake in Najeon Co.,Ltd. As part of the transaction, SAMBO MOTOS Co,.Ltd. will receive 100% stake in Plakor Czech and 26.57% stake in Najeon Co.,Ltd.
For the period ending December 2011, Plakor Corporation, reported total assets of KRW 192.39 billion, net assets of KRW 94.13 billion, sales of KRW 212.23 billion, operating profit of KRW 4.06 billion and net profit of KRW 4.53 billion. Najeon Co.,Ltd. reported total assets of KRW 39.7 billion, net assets of KRW 14.49 billion, sales of KRW 76.53 billion, operating profit of KRW 3.52 billion and net profit of KRW 2.45 billion. As of December 5, 2012, the transaction has been resolved by Board of Directors of ARRK Corporation. The transaction is expected to close in the end of January 2013.
SAMBO MOTOS Co,.Ltd. (KOSE:A053700) and an unknown buyer cancelled the acquisition of Plakor Corporation and 73.43% stake in Najeon Co.,Ltd. from ARRK Corporation (TSE:7873) on October 25, 2013.
SAMBO MOTORS CO., LTD is a Korea-based company principally engaged in the manufacture of automobile components together with its subsidiaries. The Companyâs products portfolio consists of transmission parts including carrier plates, automatic plates, shaft assembly clutch release forks, rings, covers and center supports; engine parts including water pipes, oil screens, oil level gauges, heater pipes, stays and others, as well as fuel parts including fuel filler necks. The Companyâs main clients are KIA MOTORS, GM DAWOO, HYUNDAI MOTORS, HYUNDAI MOBIS and others. It distributes its products within domestic market and to overseas markets. On January 30, 2013, the Company established a new wholly owned subsidiary in Korea, engaged in the automobile parts and other items, to acquire Placor Co., Ltd.
SAMBO MOTORS CO., LTD 
