CG Bio Co., Ltd. completed the acquisition of Innosys Co., Ltd. from CG Bio Co., Ltd.
February 07, 2024
Share
CG Bio Co., Ltd. agreed to acquire a 23.54% stake in Innosys Co., Ltd. (KOSDAQ:A056090) from Smart Solutions Co., Ltd (KOSDAQ:A136510) and J-Space Holdings Co., Ltd. for KRW 32.5 billion on November 30, 2023. The transaction is expected to close on January 12, 2024.As per disclosure dated January 18, 2024, The expected date of the change of the largest shareholder will be determined upon the conclusion of the share transfer agreement, and the remaining payment date is currently under negotiation and will be re-announced when confirmed. As of January 22, 2024 Transaction is expected to complete on February 2, 2024.
CG Bio Co., Ltd. completed the acquisition of 17.75% stake in Innosys Co., Ltd. (KOSDAQ:A056090) from CG Bio Co., Ltd. on February 7, 2024. CG Bio Co., Ltd. cancelled the acquisition of 5.79% stake in Innosys Co., Ltd. from J-Space Holdings Co., Ltd.
Smart Solutions Co Ltd, formerly EdisonEV Co Ltd, is a Korea-based company mainly engaged in the electric vehicle business. The Company operates through two segments. The Electric Vehicle segment is engaged in the manufacture and sale of electric vehicles. The Semiconductor and Display segment mainly manufactures display inspection equipment such as smart-end point detections (EPD) and smart-health monitoring systems (HMS) for plasma inspection and eagle eye systems (EGIS) for glass substrate inspection.