DECO&E Co.,Ltd. cancelled the acquisition of 47.3% stake in Beatro Co., Ltd. from SDP Korea Co., Ltd.
July 24, 2019
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DECO&E Co.,Ltd. (KOSDAQ:A017680) agreed to acquire 47.3% stake in Beatro Co., Ltd. from SDP Korea Co., Ltd. for KRW 4 billion on July 25, 2018. Under the transaction, DECO&E Co.,Ltd acquires 0.0095 million shares. The payment will be made by issuing convertible bonds. During the financial year ended December 31, 2017, Beatro Co., Ltd. reported total assets of KRW 1.7 billion, revenue of KRW 6.5 billion, net assets of KRW 646 million and net profit of KRW 581 million. The transaction has been resolved by the Board of DECO&E Co.,Ltd. The transaction is expected to be completed by July 25, 2018. Jung-il Accounting Corporation acted as External Rating Institution to DECO&E Co.,Ltd.
DECO&E Co.,Ltd. (KOSDAQ:A017680) cancelled the acquisition of 47.3% stake in Beatro Co., Ltd. from SDP Korea Co., Ltd. on July 25, 2019.
DECO&E CO., LTD., formerly DECO-NETISHION CO., LTD, is a Korea-based company engaged in the manufacture and distribution of women's apparels. The Company's apparel brands include Deco, which is in a luxury casual style; 96NY, which is in a modern and casual style; ANA CAPRI, which is in a feminine style. The Company provides its products through department stores and commercial agents.