Mikwang Precision Co., Ltd., Mg Electronics Co. Ltd and JM Tech Co., Ltd. completed the acquisition of 17.36% stake in Guyoung Tech. Co., Ltd. from Cooper-Standard Holdings Inc..
April 29, 2014
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Mikwang Precision Co., Ltd., Mg Electronics Co. Ltd and JM Tech Co., Ltd. signed a definitive agreement to acquire 17.36% stake in Guyoung Tech. Co., Ltd. (KOSDAQ:A053270) from Cooper-Standard Holdings Inc. (NYSE:CPS) for KRW 3.3 billion on January 18, 2014. Mikwang Precision will acquire an additional 1 million shares, Mg Electronics will acquire 0.93 million shares and JM Tech will acquire 0.3 million shares of Guyoung Tech at a price of KRW 1500 per share. Mikwang Precision, Mg Electronics Co. Ltd and JM Tech will use business income to fund the acquisition. The acquisition is expected to close within April 2014.
Mikwang Precision Co., Ltd., Mg Electronics Co. Ltd and JM Tech Co., Ltd. completed the acquisition of 17.36% stake in Guyoung Tech. Co., Ltd. (KOSDAQ:A053270) from Cooper-Standard Holdings Inc. (NYSE:CPS) on April 30, 2014.
GUYOUNGTECHNOLOGY COMPANY LIMITED is a Korea-based company engaged in the original equipment manufacturing (OEM) of automobile parts. The Company produces body and chassis parts, including seat assemblies, hinge assemblies, hook assemblies, bracket assemblies and others, and power trains, including bracket assemblies, cover assemblies and pan assemblies. Through its subsidiaries, it also produces large body parts, small body parts and chassis parts of automobiles, as well as operates gas stations and cargo terminals.
Mikwang Precision Co., Ltd., Mg Electronics Co. Ltd and JM Tech Co., Ltd. completed the acquisition of 17.36% stake in Guyoung Tech. Co., Ltd. from Cooper-Standard Holdings Inc..
GUYOUNG TECHNOLOGY CO., LTD 
