COPUS KOREA Co., Ltd. agreed to acquire Kimjonghak Production, Inc. from Calvin Dunn Global M & A Fund First Private Equity Partnership and Two Stone Group Co., Ltd. for KRW 12.9 billion.
July 10, 2022
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COPUS KOREA Co., Ltd. (KOSDAQ:A322780) agreed to acquire Kimjonghak Production, Inc. from Calvin Dunn Global M & A Fund First Private Equity Partnership and Two Stone Group Co., Ltd. for KRW 12.9 billion on July 11, 2022. The cash consideration comprises of down payment of KRW 1.3 million paid at contract signing and remaining to be paid at closing. Upon completion, COPUS KOREA will own 100% stake in Kimjonghak, making it a wholly owned subsidiary. The consideration will be funded from holding funds (previously issued convertible bonds). The Kimjonghak had total assets of KRW 16.89 billion, total debts of KRW 14.01 billion, total equity of KRW 2.88 billion, sales of KRW 5.14 billion and net income of KRW -6.26 billion, for the current year 2021. The transaction is expected to complete on July 29, 2022. DAHAN Accounting Corporation acted as accountant of COPUS.
Copus Korea Co Ltd, formerly DB Finance No.7 Special Purpose Acquisition Co Ltd, is a Korea-based company mainly engaged in the production and distribution of movies, videos, and broadcast programs. The Company processes video, sound, and subtitles and distributes them to the platform enterprises or transfers some rights to other enterprises after securing the rights of broadcasting contents. In addition, the Company purchases products such as cosmetics and sells them through offline distribution channels. The Company also supplies subtitles through self-production or outsourced production after customer requests subtitle production. The Company operates its business in domestic and overseas markets such as Japan.
COPUS KOREA Co., Ltd. agreed to acquire Kimjonghak Production, Inc. from Calvin Dunn Global M & A Fund First Private Equity Partnership and Two Stone Group Co., Ltd. for KRW 12.9 billion.
COPUS KOREA CO., LTD. 
