Executives of SANE Co., Ltd. completed the acquisition of 68.15% stake in SANE Co., Ltd. from JT Corp. for KRW 2.7 billion.
December 20, 2012 at 04:00 am
Share
Executives of SANE Co., Ltd. agreed to acquire SANE Co., Ltd. from JT Corp. (KOSE:A089790) for KRW 4 billion on August 13, 2012. Under the terms of the transaction, JT Corp. will sell all of its 2 million shares of SANE Co. The Board of JT Corp. resolved to sell SANE Co.,Ltd. on August 13, 2012. The transaction is scheduled to complete on August 13, 2012. As on August 14, 2012, JT Corp. announced an amendment, as per which the transaction is scheduled to complete on December 20, 2012.
Executives of SANE Co., Ltd. completed the acquisition of 68.15% stake in SANE Co., Ltd. from JT Corp. (KOSE:A089790) for KRW 2.7 billion on December 20, 2012. JT Corp. sold 1.363 million shares of SANE Co. Executives of SANE paid KRW 2.04 billion at the time of signing the agreement and paid remaining KRW 686 million on December 20, 2012. The sale or remaining 0.64 million shares were terminated as buyer is unable to pay balance payment.
JT Corporation is a Korea-based company mainly engaged in the manufacture and distribution of semiconductor testing equipment. The Companyâs products portfolio consists of semiconductor systems, including burn-in sorters, solid state drive (SSD) test handlers, simple handlers, semiconductor vision inspection systems and others; light-emitting diode (LED) systems, such as LED probers and LED sorters; display drive integrated circuit (DDI), including DDI vision inspection systems and DDI pick and place handlers, as well as organic light-emitting diode (OLED) testing equipment, laser pattern equipment, multilayer laminator equipment and other equipment components. In addition, it provides conversion kits and parts. The Company distributes its products within domestic market and to overseas markets.
JT CORPORATION 
