UE Furniture Co., Ltd. agreed to acquire DSVK Industrial Corporation from PHAM THI NU, TRAN UYÊN PHUONG and TRAN NGOC BÍC for approximately VND 350 billion.
January 11, 2020
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UE Furniture Co., Ltd. (SHSE:603600) agreed to acquire DSVK Industrial Corporation from PHAM THI NU, TRAN UYÊN PHUONG and TRAN NGOC BÍC for approximately VND 350 billion($15.06 million) on January 9, 2020. Under the terms of the transaction PHAM THI NU will transfer 54.491% equivalent to 5.881582 million shares, TRAN UYÊN PHUONG will transfer 29.385% equivalent to 3.171721 million shares and TRAN NGOC BÍC will transfer 16.124 equivalent to 1.740372 million shares to UE Furniture Co., Ltd. After signing the agreement UE Furniture Co., Ltd. should pay all the transaction fees to PHAM THI NU, TRAN UYÊN PHUONG and TRAN NGOC BÍC. DSVK Industrial Corporation reported nil Revenue, Total Assets of 107,937.040682 million, Total common equity of 107,930.932682 million and Net Loss of -5.825455 million. As of December 13, 2019, the transaction has been approved by the Board of Directors at the 11th meeting of the 3rd directorate. The transaction is subject to approval by filing procedures of the domestic commerce, development and reform, foreign exchange management and other departments, as well as the registration procedures for changes in the shares of relevant Vietnamese government departments.
UE Furniture Co Ltd is a China-based company mainly engaged in the research and development, production and sales of healthy seats. The Company's primary products include office chairs, training chairs, massage chair bodies, leisure chairs, children chairs, sofa and functional seat accessories. The Company mainly distributes its products in the Mainland of China and overseas markets.
UE FURNITURE CO., LTD. 
