Wonik IPS Co., Ltd. completed the acquisition of an additional 32% stake in Wonik Investment Partners Co., Ltd. from Wonik Corporation.
May 11, 2015
Share
Wonik IPS Co., Ltd. (KOSDAQ:A030530) signed a contract to acquire an additional 32% stake in Wonik Investment Partners Co., Ltd. from Wonik Corporation (KOSDAQ:A032940) for KRW 12.2 billion on April 24, 2015. Under the terms of the agreement, Wonik Corporation will sell 1.14 million shares in Wonik Investment Partners Co., Ltd. Wonik IPS will pay 30% of the consideration amounting to KRW 3.66 billion on contract signing date and 70% of the consideration amounting to KRW 8.5 billion on May 11, 2015. The Board of Wonik Corporation passed a resolution for the transaction on April 24, 2015. The deal is expected to close on May 11, 2015. Wonik Corporation will use the funds raised from selling of the stock for internal use and hereafter new business propulsion. PricewaterhouseCoopers Korea acted as the external valuation agency. PricewaterhouseCoopers acted as financial advisor to Wonik Investment Partners.
Wonik IPS Co., Ltd. (KOSDAQ:A030530) completed the acquisition of an additional 32% stake in Wonik Investment Partners Co., Ltd. from Wonik Corporation (KOSDAQ:A032940) on May 11, 2015.
Wonik Corporation is a Korea-based company mainly engaged in the provision of medical equipment. The Company operates its business through three segments: medical and commercial segment, electronic components segment and rental business segment. Its medical and commercial segment mainly provides medical equipment such as endoscopes, lasers, ultrasonic equipment and others, as well as industrial materials, lighting equipment, electronic, electrical and communication equipment components and others. Its electronic components segment mainly manufactures electronic components such as hybrid integrated circuits (HICs), radio frequency (RF) filters, global position systems (GPSs) and others. Its rental business segment engages in the rental business.
WONIK CORPORATION 