DNA Link, Inc. completed the acquisition of L&C Bio Co., Ltd. from Hyungseok Choi and Myunghee Jung.
January 11, 2018
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DNA Link, Inc. (KOSDAQ:A127120) agreed to acquire L&C Bio Co., Ltd. from Hyungseok Choi and Myunghee Jung for KRW 3.5 billion on November 30, 2017. DNA Link, Inc. will acquire 49,870 shares as part of the transaction. The purchase price will be paid in cash and unguaranteed convertible bonds of KRW 1.5 billion. DNA Link, Inc. paid KRW 1.5 billion on January 12, 2018. L&C Bio Co., Ltd. had total assets of KRW 3.9 billion, net assets of KRW 3.1 billion, revenue of KRW 4.9 billion and net profit of KRW 450.7 million in 2016. The transaction has been resolved by the Board of Directors of DNA Link, Inc. on November 30, 2017. The transaction is expected to complete on January 30, 2018. Daehyun Accounting Corporation acted as External Rating Institution in the transaction.
DNA Link, Inc. (KOSDAQ:A127120) completed the acquisition of L&C Bio Co., Ltd. from Hyungseok Choi and Myunghee Jung on January 12, 2018.
L&C BIO Co., Ltd is a Korea-based Company mainly engaged in the regenerative medicine business. The Company mainly manufactures and sells human tissue transplant materials used for tissue repair and filler. The Company also produces and sells human tissue-based medical devices and Cosmeceuticals. Its products are used in vascular surgeries, plastic surgeries, general surgeries and others.