An unknown buyer cancelled the acquisition of 75% stake in UG Asset Co., Ltd. from Abpro Bio Co., Ltd..
October 24, 2020
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An unknown buyer agreed to acquire 75% stake in UG Asset Co., Ltd. from Abpro Bio Co., Ltd. (KOSDAQ:A195990) for KRW 3.2 billion on October 25, 2019. As per the transaction, Abpro Bio Co., Ltd. will sell 0.75 million shares. The Board of Directors of Abpro Bio Co., Ltd. has passed the resolution on October 25, 2019. Transaction was scheduled to close on December 31, 2019 but after correction, it has been scheduled on December 26, 2019.
An unknown buyer cancelled the acquisition of 75% stake in UG Asset Co., Ltd. from Abpro Bio Co., Ltd. (KOSDAQ:A195990) on October 25, 2020.
Abpro Bio Co., Ltd., formerly Ugint Co., Ltd., is a Korea-based company engaged in machine tools manufacturing. The Company produces and distributes small sized machining centers for notebooks, smart phones, tablet personal computers, mobile phones, base plates, light emitting diode (LED) and light crystal display (LCD) television panels, automobile parts, motorbikes parts and aircraft parts. The Company also engages in original equipment manufacturing business (OEM). The Company operates its business within domestic markets and foreign markets such as China and Europe countries.