An unknown buyer cancelled the acquisition of 80% in Bareundoor Co., Ltd. from Glosfer Labs Co., Ltd. on November 18, 2020.
November 18, 2020
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An unknown buyer agreed to acquire 80% in Bareundoor Co., Ltd. from Glosfer Labs Co., Ltd. (KOSDAQ:A032860) for KRW 13.1 billion on November 18, 2019. As per terms, 0.06 million shares will be acquired in cash. As per terms, KRW 1 billion is payable on November 18, 2019, KRW 6.1 billion on November 22, 2019 and balance KRW 6 billion on November 27, 2019. Post completion, Glosfer Labs Co., Ltd. will exit from Bareundoor Co., Ltd. For the year ended December 31, 2018, Bareundoor Co., Ltd. reported total assets of KRW 15.9 billion, net assets of KRW 8.8 billion, revenues of KRW 19.2 billion and net income of KRW 1.9 billion. The Board of Directors resolved the transaction on November 18, 2019. The deal is expected to close on November 27, 2019.
An unknown buyer cancelled the acquisition of 80% in Bareundoor Co., Ltd. from Glosfer Labs Co., Ltd. (KOSDAQ:A032860) on November 18, 2020.
Glosfer Labs, Inc., formerly GMR Materials Co., Ltd., is a Korea-based company principally engaged in the iron scraps distribution business. The Company operates its business through two segments. The Metal and Nonmetal Raw Material Recycling Business segment engaged in the distribution of steel scraps used for steelmaking. The segment also builds and operates container shipping systems. The Fire Door Business segment manufactures, sells and constructs fire doors used in power plants, plants, apartments and buildings. The Company sells its products within domestic market and to overseas markets.
THE LAMY CO., LTD. 
