Magnum Holdings Corporation completed the acquisition of 3.7% stake in Goodtel Co., Ltd from Gemini Investment Corporation.
March 30, 2017 at 05:00 am
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Magnum Holdings Corporation agreed to acquire 3.7% stake in Goodtel Co., Ltd from Gemini Investment Corporation (KOSDAQ:A019570) for KRW 1.1 billion on March 28, 2017. Magnum Holdings will acquire 0.013 million shares of Goodtel and will pay the consideration in cash and Magnum Holdings Corporation will pay KRW 600 million at the time of signing the contract, and Gemini Investment Corporation transferred the rights of the target shares at the time of balance payment. Post transaction, Gemini will not hold any shares of Goodtel. Goodtel Co., Ltd reported total assets of KRW 36.2 billion, net assets of KRW 9.5 billion, revenues of KRW 19.2 billion, net profit of KRW 1.1 billion for the year ended December 31, 2016. The transaction is resolved by the Board of Gemini Investment. The transaction is expected to close on March 30, 2017. Songkang Accounting Corporation acted as valuer in the transaction.
Magnum Holdings Corporation completed the acquisition of 3.7% stake in Goodtel Co., Ltd from Gemini Investment Corporation (KOSDAQ:A019570) on March 30, 2017.
Plutus Investment Co Ltd, formerly Leaders Technology Investment Co Ltd, is a Korea-based company principally engaged in the provision of venture capital investment and financial related services. The Company operates its business through startup and venture investment, corporate restructuring, merger and acquisition (M&A) arbitration and mediation, management consulting as well as investment in small- and medium-sized enterprises. Its investment targets are small- and medium-sized startups and venture companies primarily engaged in information technology (IT), biotechnology, cultural contents, entertainment, game software and others.