HYSONIC Co., Ltd. cancelled the acquisition of 75% stake in Gnt Co.,Ltd from JongGuk Ahn and three other shareholders.
August 20, 2020
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HYSONIC Co., Ltd. (KOSDAQ:A106080) agreed to acquire 75% stake in Gnt Co.,Ltd from JongGuk Ahn and three other shareholders for KRW 15 billion on August 14, 2020. The consideration will be paid in three installments, out of which KRW 1.5 billion will be paid on August 14, 2020, KRW 1.5 billion will be paid on August 21, 2020, and the remaining KRW 12 billion will be paid on September 29, 2020. As of August 21, 2020, KRW 1.5 billion to be paid on August 21, 2020 will now be paid on August 26, 2020. The consideration is payable in cash. Gnt Co.,Ltd reported net income of KRW 1.6 billion, total revenue of KRW 18.7 billion, total assets of KRW 31.4 billion and net assets of KRW 15.3 billion for the year ended December 31, 2019. The transaction is expected to be completed on September 29, 2020.
HYSONIC Co., Ltd. (KOSDAQ:A106080) cancelled the acquisition of 75% stake in Gnt Co.,Ltd from JongGuk Ahn and three other shareholders on August 21, 2020.
HYSONIC Co., Ltd., formerly G2HYSONIC Co., Ltd., is a Korea-based company principally engaged in the manufacturing of auto focus (AF) actuators. The Company mainly manufactures precision micro miniature electro mechanical actuator products including AF actuators, optical image stabilizer actuators and smooth picture actuators for mobile handset camera application and optical application. The Company's customers include HUAWEI, Liteon, LG Innotek, CammSys Corp and others. It distributes its products within domestic market and to overseas markets.
HYSONIC CO., LTD. 
