AJ Networks Co., Ltd. cancelled the acquisition of additional 48.8% stake in AJ Bike Co., Ltd from AJ Rent A Car Co., Ltd..
January 01, 2020
Share
AJ Networks Co., Ltd. (KOSE:A095570) agreed to acquire additional 48.8% stake in AJ Bike Co., Ltd from AJ Rent A Car Co., Ltd. (KOSE:A068400) for KRW 12.7 billion on January 2, 2019. Under the terms, AJ Networks will acquire 0.05 million shares of AJ Bike at KRW 0.28 million per share. The consideration is paid in cash which will be paid on January 3, 2019. Post-acquisition, AJ Networks will hold 0.06 million shares (67.09%) in AJ Bike. The transaction has been resolved by the Board of Directors of AJ Rent A Car and AJ Networks at the meeting held on January 2, 2019. The transaction is expected to be completed by January 3, 2019.
AJ Networks Co., Ltd. (KOSE:A095570) cancelled the acquisition of additional 48.8% stake in AJ Bike Co., Ltd from AJ Rent A Car Co., Ltd. (KOSE:A068400) on January 2, 2020.
AJ Networks Co.,Ltd. is a Korea-based company engaged in the provision of equipment rental services. The Company has two segments: holding segment, which manages its subsidiaries and affiliates and business segment, which engaged in the rental of pallets used for loading, unloading, transporting and keeping, information technology (IT) devices including desktop computers, laptop computers, printers, projectors and others and construction devices including aerial lift equipments, tower cranes and others.
AJ NETWORKS CO.,LTD. 
