Leaders Cosmetics Co., Ltd. agreed to acquire remaining 50% stake in Leaders Solutions Co., Ltd. for approximately KRW 710 million.
November 16, 2020
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Leaders Cosmetics Co., Ltd. (KOSDAQ:A016100) agreed to acquire remaining 50% stake in Leaders Solutions Co., Ltd. for approximately KRW 710 million from a group of shareholders on November 17, 2020. Under the terms of the transaction, the merger ratio is 2.342732. Leaders Solutions Co., Ltd. has no plans to continue its business in the future and is closing its current business. The name of the surviving company after the merger is Leader Cosmetics. Leaders Solutions Co., Ltd. had total assets of KRW 1.5 billion and total equity of KRW 1.5 billion. The transaction was approved by Board of Directors of Leaders Cosmetics Co., Ltd. on November 17, 2020. As on December 02, 2020, transaction is approved by the shareholders of Leaders Solution, Inc. The transaction is expected to close on January 19, 2021. Samhwa Accounting Firm acted as the external evaluation agency in the transaction.
LEADERS COSMETICS CO., LTD., formerly SANSUNG LIFE & SCIENCE CO., LTD. is a Korea-based company mainly engaged in the manufacture of corrugated cardboards. The Company operates in two business divisions: corrugated cardboard division and cosmetic division. Its corrugated cardboard division provides double-faced corrugated cardboards, single-faced corrugated cardboards, double-wall corrugated cardboards and others. Its cosmetic division provides mask pack, basic skin care products and others. The Company mainly distributes its products within domestic market.