HB Holdings Group Co., Ltd. cancelled the acquisition of 85.82% stake in Charm Savings Bank CO.,LTD from Charm Engineering Co.,Ltd.
October 03, 2022
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HB Holdings Group agreed to acquire 85.82% stake in Charm Savings Bank CO.,LTD from Charm Engineering Co.,Ltd. for KRW 75 billion on February 8, 2022. The transaction is subject to Charm Engineering shareholder's approval and due diligence. The proceeds will be used for securing financial soundness by purchasing raw materials and repaying borrowings.
HB Holdings Group Co., Ltd. cancelled the acquisition of 85.82% stake in Charm Savings Bank CO.,LTD from Charm Engineering Co.,Ltd. on October 4, 2022.
Charm Engineering Co Ltd is a Korea-based company engaged in the manufacture and sale of repair equipment that repairs defects in the display panel process. The Company operates its business through two segments. The Domestic Business segment is engaged in the manufacture and sale of display panel repair equipment. It is a repair equipment that repairs defects that occur during the manufacturing process of display panels such as liquid crystal displays (LCDs), organic light emitting diodes (OLEDs), quantum dot-organic light emitting diodes (QD-OLEDs) and micro light emitting diodes (LEDs) using precision optics, lasers and ink modules. The Overseas Business segment is engaged in the provision of parts and equipment maintenance services to overseas customers of repair equipment in Mainland China and Vietnam. In addition, the Company is engaged in the operation of saving banks.
HB Holdings Group Co., Ltd. cancelled the acquisition of 85.82% stake in Charm Savings Bank CO.,LTD from Charm Engineering Co.,Ltd.
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