CTGen Co.,Ltd. completed the acquisition of 21.94% stake in Taeil Co., Ltd. from Dohyun Park, Juhyun Park and Junghyun Park.
August 04, 2019
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CTGen Co.,Ltd. (KOSDAQ:A036170) agreed to acquire 21.94% stake in Taeil Co., Ltd. from Dohyun Park, Juhyun Park and Junghyun Park for KRW 12.9 billion on July 9, 2019. Gen Co.,Ltd. will pay KRW 1.29 billion on July 9, 2019 and balance of KRW 11.7 billion will be paid on September 30, 2019. As of August 5, 2019, the balance will be paid on August 5, 2019. CTGen Co.,Ltd. will acquire 0.15 million shares of Taeil Co., Ltd. Dohyun Park will sell 0.06 million shares for KRW 5.55 billion, Juhyun Park will sell 0.06 million shares for KRW 5.54 billion and Junghyun Park will sell 0.02 million shares for KRW 1.86 billion. CTCTGen Co.,Ltd. will self fund the transaction. The Board of Directors passed a resolution for the transaction on July 9, 2019. The transaction is expected to be completed on September 30, 2019. As of August 5, 2019, the transaction is expected to be completed on balance payment date and the closing date shall be the date when the share transfer and payment process are complete.
CTGen Co.,Ltd. (KOSDAQ:A036170) completed the acquisition of 21.94% stake in Taeil Co., Ltd. from Dohyun Park, Juhyun Park and Junghyun Park on August 5, 2019.
Cloud Air Co Ltd, formerly Livefinancial Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of light emitting diode (LED). The Company operates its business through three segments. The LED Business segment produces LED used for automobiles and lighting. It also engages in the business of real estate rental. The Investment Advisory Business segment provides services related to management consulting. The Fintech Business segment engages in fintech platform and service related business.