Simpac Holdings Co.,Ltd. cancelled the acquisition of SIMPAC Inc. from Choi Jin-sik, Yeonsoo Yoon, Minyoung Choi, Song Hyo-seok and others
July 01, 2024
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Simpac Holdings Co.,Ltd. agreed to acquire SIMPAC Inc. (KOSE:A009160) from Choi Jin-sik, Yeonsoo Yoon, Minyoung Choi, Song Hyo-seok and others for KRW140 billion on June 17, 2024. The consideration consists of 36.72 million common equity of SIMPAC Inc. at a ratio of 36.72433 per common equity of Simpac Holdings Co.,Ltd. As part of consideration, an undisclosed value is paid towards common equity of Simpac Holdings Co.,Ltd. The expected completion of the transaction is September 1, 2024.
Simpac Holdings Co.,Ltd. cancelled the acquisition of SIMPAC Inc. (KOSE:A009160) from Choi Jin-sik, Yeonsoo Yoon, Minyoung Choi, Song Hyo-seok and others on July 1, 2024.
SIMPAC Inc. is a Korea-based company mainly engaged in the manufacture of presses for metal parts manufacturing. The Companyâs products consist of mechanical presses, including coordinate frame (C-frame) crank presses, solid frame presses, transfer presses, liner guide link presses, straight side crank presses, crankless presses, as well as servo presses and hydraulic presses. The Company also produces automation equipment, including transfer robots, shuttle robots, loaders, unloaders, new uncoiler leveler (NC) feeders, NC feeders, blanking lines and slitting lines. In addition, it engages in the rental business. The Company distributes its products within domestic market and to overseas markets. On February 11, 2014, the Company acquired a 98% stake in BONG SHIN Co.Ltd.
SIMPAC INC. 
