Flashlight Capital Partners Pte Ltd submitted a letter of intent to acquire Korea Ginseng Corp. from KT&G Corporation (KOSE:A033780) for KRW 1.92 trillion on October 13, 2024. The purchase price will be for 14,370,023 shares of Korea Ginseng Corp.
The transaction amount will be paid in full in cash at the time of closing, with typical escrow deposits or other conditions as necessary. The transaction will be financed from funds sourced by Flashlight Capital Partners and its affiliates, and special-purpose entities managed by it. Flashlight Capital Partners has obtained all internal approvals necessary to submit this Letter of Intent.
Except for general reporting requirements, such as Fair Trade Commission report, Flashlight Capital do not anticipate any significant regulatory or external approvals.