Wellbiotec Co., Ltd. completed the acquisition of an additional 3.94% stake in Nokwon C&I Corp. from SPR Partners Co., Ltd., Zeus Asset Management Co., Ltd. and MOWOO CO.,LTD.
September 27, 2019
Share
Wellbiotec Co., Ltd. (KOSE:A010600) agreed to acquire an additional 3.94% stake in Nokwon C&I Corp. from SPR Partners Co., Ltd., Zeus Asset Management Co., Ltd. and MOWOO CO.,LTD. for KRW 6 billion on September 17, 2019. Wellbiotec Co., Ltd. acquired 0.075 million shares from MOWOO CO.,LTD. for KRW 0.74 billion, 0.2 million shares from Zeus Asset Management Co., Ltd. for KRW 1.97 billion and 0.33 million shares from SPR Partners Co., Ltd. for KRW 3.3 billion. The payment of 2 billion was made to SPR Partners Co., Ltd. on the contracting date and acquisition of shares happened at the same time as payment of balance to each seller on September 27, 2019. Post completion of the transaction, Wellbiotec Co., Ltd. holds 1.25 million shares in Nokwon C&I Corp. representing 8.10% stake.
Wellbiotec Co., Ltd. (KOSE:A010600) completed the acquisition of an additional 3.94% stake in Nokwon C&I Corp. from SPR Partners Co., Ltd., Zeus Asset Management Co., Ltd. and MOWOO CO.,LTD. on September 27, 2019.
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. completed the acquisition of an additional 3.94% stake in Nokwon C&I Corp. from SPR Partners Co., Ltd., Zeus Asset Management Co., Ltd. and MOWOO CO.,LTD.
WELLBIOTEC CO., LTD. 
