Changether Co., Ltd. agreed to acquire CMDL Co., Ltd. from Skin n Skin Co., Ltd. for KRW 9.5 billion.
June 28, 2019
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Changether Co., Ltd. agreed to acquire CMDL Co., Ltd. from Skin n Skin Co., Ltd. (KOSDAQ:A159910) for KRW 9.5 billion on May 31, 2019. Under the terms of the transaction, Changether Co., Ltd. will acquire 0.1 million shares. The consideration includes deposit of KRW 953 million on May 31, 2019 and balance of KRW 8.6 billion to be paid on June 30, 2019. CMDL Co., Ltd. had total assets of KRW 12.1 billion, total capital of KRW 8.7 billion, sales of KRW 11 billion, net income of KRW 460 million in 2018. The deal was resolved by Board of Skin n Skin Co., Ltd. on May 31, 2019. The deal is expected to complete on June 28, 2019.
Changether Co., Ltd. completed the acquisition of CMDL Co., Ltd. from Skin n Skin Co., Ltd. (KOSDAQ:A159910) on June 28, 2019. The balance of KRW 8.6 billion is paid on June 28, 2019.
Skin N Skin Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of cosmetics. The Company operates business through two segments. The Beauty segment is mainly engaged in the manufacture and sale of cosmetics and apparel. The Product Distribution Business segment is engaged in the distribution of masks.