The Willbes & CO., Ltd. cancelled the acquisition of NAMUCPA.
June 08, 2016
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The Willbes & CO., Ltd. (KOSE:A008600) agreed to acquire NAMUCPA for KRW 15 billion in cash on June 9, 2015. Willbes will acquire 8,000 shares in the transaction. NAMUCPA had total assets of KRW 9.3 billion, total stockholders' equity of KRW 2.5 billion, revenue of KRW 20.1 billion and net profit of KRW 2.1 billion in 2014. The Board of Directors of Willbes passed a resolution for the transaction on June 9, 2015. The transaction is expected to be completed on July 3, 2015.
The Willbes & CO., Ltd. (KOSE:A008600) cancelled the acquisition of NAMUCPA on June 9, 2016.
THE WILLBES & CO., LTD. is a Korea-based original equipment manufacturer (OEM) of textiles. The Company operates in two business divisions: fiber division and education division. Its fiber division provides knits, sweaters, woven products, microfibers and others, through its oversea subsidiaries. Its education division provides education services to various individuals, such as lawyers, diplomats, government officials, appraisers, labor attorneys and others. The Company mainly supplies its textile products to TARGET, OLD NAVY and WAL MART. On May 31, 2013, the Company acquired 100% shares of a Korea-based company, which is mainly engaged in the educational institute operations.