Kodaco Co., Ltd completed the acquisition of 1.32% stake in JICO co., Ltd from Manhattan Asset.
May 15, 2017
Share
Kodaco Co., Ltd (KOSDAQ:A046070) signed a contract to acquire 1.32% stake in JICO co., Ltd (KOSE:A010580) from Manhattan Asset for KRW 900 million on March 29, 2017. As a part of the consideration a payment will be made in three tranches, a deposit of approximately KRW 140 million as a first payment, second payment will be approximately KRW 310 million and remaining balance of KRW 450 million. Under the terms of the transaction, Kodaco Co., Ltd will acquire 0.5 million shares at a KRW 1800 per share. The transaction was resolved by the Board of Directors on March 29, 2017. As on April 13, 2017, Manhattan Asset sold 0.25 million shares of JICO co., Ltd. The transaction is expected to be completed by April 13, 2017.
Kodaco Co., Ltd (KOSDAQ:A046070) completed the acquisition of 1.32% stake in JICO co., Ltd (KOSE:A010580) from Manhattan Asset on May 15, 2017.
SM Bexel Co Ltd, formerly Jico Co Ltd, is a Korea-based company engaged in the manufacture and sale of automobile parts. The Companyâs products consist of water pumps, oil pumps for internal combustion engines, front cases, cylinder heads, as well as automotive parts such as clutches and pistons for gearboxes. In addition, the Company is also engaged in the provision of shafts for automobile assemblies. The Company distributes its products within domestic market and to overseas markets.
SMBEXEL COMPANY 
