Eco Lux Co., Ltd completed the acquisition of 8.5% stake in Digital Optics Co., Ltd. from KPM Investment Co., Ltd.
June 11, 2018
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Eco Lux Co., Ltd agreed to acquire 8.5% stake in Digital Optics Co., Ltd. (KOSDAQ:A106520) from KPM Investment Co., Ltd. for KRW 5.5 billion on April 26, 2018. KPM will sell 2.93 million shares at KRW 1,868 per share as part of the deal. Payment will be made as to KRW 1 billion concurrently with the contract and the remaining KRW 4.5 billion shall be paid up to two weeks prior to the extraordinary general meeting of shareholders. As of May 30, 2018, the remaining KRW 4.5 billion consideration shall be paid until June 12, 2018. The consideration will be funded from use of own cash of KRW 1.8 billion by Eco Lux. The Board of Directors resolved in favor of the deal on April 26, 2018 and the deal is expected to close on May 31, 2018 depending on when the balance payment is received. As of May 30, 2018, the deal is expected to close on June 12, 2018.
Eco Lux Co., Ltd completed the acquisition of 8.5% stake in Digital Optics Co., Ltd. (KOSDAQ:A106520) from KPM Investment Co., Ltd. on June 12, 2018.
Noble M&B Co Ltd, formerly Digital Optics Co Ltd, is a Korea-based company mainly engaged in the manufacture and sale of lens. The Company operates its business through three segments. The Lens Business segment is mainly engaged in the manufacture and sale of camera lenses used for mobile phones, vehicles and projector engines used for subminiatures as well as others. The Distribution Business segment is mainly engaged in the photography income business. The Health Food Business segment is mainly engaged in the production of health functional foods.