Veritas Investment Co., Ltd. cancelled the acquisition of Sein Autotech Co., Ltd. from Chang-Gyun Kim, Ji-Won Lee, and BDN.
December 20, 2014 at 04:00 am
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Veritas Investment Co., Ltd. (KOSDAQ:A019660) agreed to acquire Sein Autotech Co., Ltd. from Chang-Gyun Kim, Ji-Won Lee, and BDN for KRW 1.1 billion in cash on December 20, 2013. Veritas Investment Co., Ltd. will acquire 0.07 million shares. Sein Autotech Co., Ltd. reported revenues of KRW 364 million, total assets of KRW 804 million, net income of KRW 52 million and total common equity of KRW 199 million for the year ending December 31, 2012. Board of Directors of Veritas Investment Co., Ltd. made a resolution in favor of the transaction on December 20, 2013. The transaction is expected to close on January 3, 2014.
Veritas Investment Co., Ltd. (KOSDAQ:A019660) cancelled the acquisition of Sein Autotech Co., Ltd. from Chang-Gyun Kim, Ji-Won Lee, and BDN on December 20, 2014.
GLOBON CO., LTD. is a Korea-based company engaged in cosmetics manufacturing business, as well as semiconductor equipment and handset distribution business. The Company produces cosmetics under the brand name of RUE KWAVE. It also engaged in semiconductor idle equipment and mobile phones distribution, semiconductor modification and improvement, as well as file access block (FAB) dismantling. The Company distributes its products within the domestic market and to overseas markets, including Europe, Asia and United States.