Limitless Holdings, Jupiter Investment Co., Ltd., Manhattan Asset and TMH Co., Ltd. cancelled the acquisition of 21.3% stake in JICO Co. Ltd. from six sellers.
December 30, 2017
Share
Limitless Holdings, Jupiter Investment Co., Ltd., Manhattan Asset and TMH Co., Ltd. signed a contract to acquire 21.3% stake in JICO Co. Ltd. (KOSE:A010580) from six sellers for KRW 10.7 billion on December 1, 2016. The sellers are Eun-Jong Um, Uijong Um, Okkyung Ko, Juyoung Um, Geuntaek Lee and Geunjoong Lee. Under the terms of the transaction, Limitless Holdings, TMH Co., Ltd. and Jupiter Investment Co., Ltd. will acquire 2 million shares each and Manhattan Asset will acquire 2.9 million shares. The offer per share is KRW 1200 per share. As per terms, first payment of KRW 1.1 billion will be deposited on December 1, 2016 and second payment of KRW 3.2 billion will be deposited on December 22, 2016. Manhattan Asset will acquire 0.89 million shares on December 2, 2016, 2.66 million shares on January 4, 2017, and 5.32 million shares on January 13, 2017 from Eun-Jong Um. As on January 19, 2017 Jupiter Investment Co Ltd has acquired 2.4 million shares in JICO Co. Ltd., and is holding 5.3% stake. As on January 19, 2017, Manhattan Asset acquired 2.9 million shares. The transaction was resolved by Board of Directors of JICO Co. Ltd. on December 1, 2016. As of December 22, 2016, the second payment date was changed to January 4, 2017.
Limitless Holdings, Jupiter Investment Co., Ltd., Manhattan Asset and TMH Co., Ltd. cancelled the acquisition of 21.3% stake in JICO Co. Ltd. (KOSE:A010580) from six sellers on December 1, 2017.
SM Bexel Co Ltd, formerly Jico Co Ltd, is a Korea-based company engaged in the manufacture and sale of automobile parts. The Companyâs products consist of water pumps, oil pumps for internal combustion engines, front cases, cylinder heads, as well as automotive parts such as clutches and pistons for gearboxes. In addition, the Company is also engaged in the provision of shafts for automobile assemblies. The Company distributes its products within domestic market and to overseas markets.
Limitless Holdings, Jupiter Investment Co., Ltd., Manhattan Asset and TMH Co., Ltd. cancelled the acquisition of 21.3% stake in JICO Co. Ltd. from six sellers.