Peach Finance Investment Association 1, SG&G Holdings Co. Ltd, Hardy & Co., JC Fund, Nar 1 Fund and Houston Fund cancelled the acquisition of 55.7% stake in Willings Co., Ltd. from Kang-soon Ahn and Mi-ran Yoon
November 12, 2021
Share
Peach Finance Investment Association 1, SG&G Holdings Co. Ltd, Hardy & Co., JC Fund, Nar 1 Fund and Houston Fund agreed to acquire 55.7% stake in Willings Co., Ltd. (KOSDAQ:A313760) from Kang-soon Ahn and Mi-ran Yoon for KRW 56.9 billion on September 28, 2021. As per the correction reported on September 29, 2021, the payment of 20% deposit will be made on the completion of receipt i.e. 0.542 million shares of KRW 11.4 billion. The balance payment for the acquisition of 2.168 million shares for KRW 45.5 billion will be made on January 1, 2021. Post completion, JC Fund will be the largest shareholder holding 1.23942 million shares representing 25.49% stake. Kang-soon Ahn will hold no stake and Mi-ran Yoon will hold 3.08% stake. Transaction is expected to complete on November 4, 2021.
Peach Finance Investment Association 1, SG&G Holdings Co. Ltd, Hardy & Co., JC Fund, Nar 1 Fund and Houston Fund cancelled the acquisition of 55.7% stake in Willings Co., Ltd. (KOSDAQ:A313760) from Kang-soon Ahn and Mi-ran Yoon on November 12, 2021. The transaction was terminated due to non-payment of balance.
Carry Co Ltd, formerly Willings Co Ltd, is a Korea-based company mainly engaged in new and renewable energy business. The Company operates its business through two segments. The Renewable Energy segment manufactures and sells photovoltaic power generation systems and energy storage system (ESS), and also conducts EPC projects that provide engineering, procurement, and construction services. The Power Solution segment manufactures and sells power conversion devices including heating inverters, power conversion devices for ship water treatment, instantaneous temperature control devices for direct water purifiers, battery packs for communication, and electric vehicle chargers.
Peach Finance Investment Association 1, SG&G Holdings Co. Ltd, Hardy & Co., JC Fund, Nar 1 Fund and Houston Fund cancelled the acquisition of 55.7% stake in Willings Co., Ltd. from Kang-soon Ahn and Mi-ran Yoon