Wellbiotec Co., Ltd. completed the acquisition of 80% stake in Nice Pharm Co.,Ltd. from Chunjae Park and Soyoung Im.
October 31, 2018
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Wellbiotec Co., Ltd. (KOSE:A010600) agreed to acquire 80% stake in Nice Pharm Co.,Ltd. from Chunjae Park and Soyoung Im for KRW 7.6 billion on October 16, 2018. Under the terms of transaction, Wellbiotec Co., Ltd. will acquire 0.06 million shares from Chunjae Park and 0.03 million shares from Soyoung Im. Wellbiotec Co., Ltd. will pay KRW 1.5 billion on contract day as deposit and KRW 4.6 billion will be paid as a second payment; and a balance of KRW 3.04 billion will be paid on October 31, 2018. For the year ended December 31, 2017, Nice Pharm Co.,Ltd. had total assets of KRW 4.3 billion, net assets of KRW 1.2 billion, sales of KRW 5.9 billion and net profit of KRW 107.6 million. The transaction has been resolved by the Board of Wellbiotec Co., Ltd. The transaction is expected to be completed by October 31, 2018.
Wellbiotec Co., Ltd. (KOSE:A010600) completed the acquisition of 80% stake in Nice Pharm Co.,Ltd. from Chunjae Park and Soyoung Im on October 31, 2018.
WELLBIOTEC CO.,LTD, formerly YBROAD CO., LTD., is a Korea-based company engaged in the leather business. The Companyâs products portfolio consists of nappa, naked, soft and other types of leathers used for handbags; water proof, gore-tex, nubuck, white and washable leathers used for shoes; chrome and non-chrome leathers used for car seats; chrome and non-chrome, and grain leathers used for steering wheels, and others, including baseball glove leathers and belt leathers. It also involves in the integrated transportation business, as well as wholesale and retail of electrical equipment business through its subsidiaries. The Company supplies its leather products to Coach, Tumi, Juicy, Vicotornox, Brighton, Timberland, Foot Joy, Stride Rite, Honda, Acura, Suzuki, Toyota and others.
WELLBIOTEC CO., LTD. 
