K Anchor Inc. completed the acquisition of 16.3% stake in Cloud Air Co.,Ltd. from Jang San Co.,Ltd. and Kim, Byung-jin.
October 21, 2021
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K Anchor Inc. signed contract to acquire 16.3% stake in Cloud Air Co.,Ltd. (KOSDAQ:A036170) from Jang San Co.,Ltd. and Kim, Byung-jin for KRW 50 billion on September 17, 2021. As per the transaction, K Anchor Inc. will acquire 9.14 million shares at KRW 5473 per shares including 7.21 million and 1.93 million shares from Jang San Co.,Ltd. and Kim, Byung-jin respectively . K Anchor Inc. shall pay KRW 10 billion as down payment, KRW 15 billion payable by October 22, 2021 and remaining KRW 25 billion on completion date of November 2, 2021. Post completion, Jang San Co.,Ltd. and Kim, Byun will have no stake in Cloud Air Co.,Ltd. The Board of Directors has passed the resolution for the transaction. Completion is planned on November 2, 2021.
K Anchor Inc. completed the acquisition of 16.3% stake in Cloud Air Co.,Ltd. (KOSDAQ:A036170) from Jang San Co.,Ltd. and Kim, Byung-jin on October 22, 2021.
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.