Hansae Co. Ltd. completed the acquisition of approximately 40% stake in MK Trend Co., Ltd. from Sang-Taek Kim, Moon-Hwan Kim and five others.
September 18, 2016
Share
Hansae Co. Ltd. (KOSE:A105630) agreed to acquire approximately 40% stake in MK Trend Co., Ltd. (KOSE:A069640) from Sang-Taek Kim, Moon-Hwan Kim and five others for approximately KRW 120 billion on July 22, 2016. Under the terms the agreement, Hansae Co. Ltd. will acquire 5.1 million shares. 10% of acquisition amount will be paid on contract signing and the balance will be paid on completion. MK Trend reported total assets of KRW 208.9 billion, revenues of KRW 289.7 billion and net profit of KRW 3.6 billion for the year ending December 31, 2015. The Board of Hansae Co resolved the deal on July 22, 2016. Daemyung Grant Thornton acted as external rating institution. Expected closing of the transaction is on September 19, 2016.
Hansae Co. Ltd. (KOSE:A105630) completed the acquisition of approximately 40% stake in MK Trend Co., Ltd. (KOSE:A069640) from Sang-Taek Kim, Moon-Hwan Kim and five others on September 19, 2016.
HansaeMK Co Ltd is a Korea-based company principally engaged in the manufacture and sale of clothing and accessory. The Company provides men's and women's casual clothing such as T-shirts, jeans and jackets under the brand names of TBJ, which includes urban, casual, modem, trendy, formal, classic and basic concept styles; ADREW, which includes retro modernism concept style; NBA, a street sports casual concept brand using the United Sates national basketball association (NBA) team characters and images as themes. It sells its products through department stores, agencies and online shopping malls.
HANSAEMK CO.,LTD. 
