KL Investment Association and three other buyers cancelled the acquisition of 35.1% stake in Namyeung Vivien Corporation from KANGLIM Co., Ltd..
November 12, 2020
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KL Investment Association and three other buyers agreed to acquire 35.1% stake in Namyeung Vivien Corporation (KOSE:A002070) from KANGLIM Co., Ltd. (KOSDAQ:A014200) for KRW 32.1 billion on November 13, 2019. KL Investment Association and three other buyers will acquire 2.4 million shares. Out of total consideration, KRW 3.2 billion will be paid on November 13, 2019 and the balance amount will be paid by December 27, 2019. The consideration will be paid in cash. As of January 21, 2020, KL Investment Association paid KRW 3.2 billion and the remaining 28.89 billion to be paid by January 21, 2020. Post completion, KANGLIM Co., Ltd. will hold 23.78% stake in Namyoung Vivian. Transaction will be financed by self-financing and borrowings. Namyoung Vivian had total assets of KRW 150.1 billion, net assets of KRW 115.9 billion, revenues of KRW 210.2 billion and net loss of KRW 11.5 billion in year 2018. Transaction was resolved by the Board of KANGLIM Co., Ltd. on November 13, 2019. Transaction is expected to close by December 27, 2019. The transaction is expected to be completed by January 21, 2020.
KL Investment Association and three other buyers cancelled the acquisition of 35.1% stake in Namyeung Vivien Corporation (KOSE:A002070) from KANGLIM Co., Ltd. (KOSDAQ:A014200) on November 13, 2020.
KANGLIM Co., Ltd is a Korea-based company mainly engaged in the manufacture and distribution of special vehicles and cranes. The Company operates its business in two divisions: special purpose vehicle division, which produces fire fighting trucks such as fire pumpers, chemical fire fighting trucks, water tank fire trucks, rescue trucks and others, environmental work vehicles such as road sweepers, high pressure water spray trucks, garbage compactors and others, and electrical work vehicles such as mobile generator trucks, auger cranes and others, as well as crane division, which produces stick boom cranes and knuckle boom cranes under the brand names of KS, KN and others. The Company distributes its products within domestic market and to overseas markets.
KANGLIM CO., LTD 
