An unknown buyer cancelled the acquisition of 10% stake in Cosmax East Co., Ltd. from Cosmax, Inc..
July 24, 2020
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An unknown buyer agreed to acquire 10% stake in Cosmax East Co., Ltd. from Cosmax, Inc. (KOSE:A192820) for KRW 82.8 billion on July 25, 2019. A total of 0.65 million shares will be acquired. At closing, Cosmax, Inc. will hold 5.85 million shares equivalent to 90% stake. As of March 29, 2019, Cosmax East Co., Ltd. reported total assets of KRW 10 million and total capital of KRW 10 million. The Board of Directors of Cosmax, Inc. resolved the transaction on July 25, 2019. The transaction is expected to complete on July 30, 2019.
An unknown buyer cancelled the acquisition of 10% stake in Cosmax East Co., Ltd. from Cosmax, Inc. (KOSE:A192820) on July 25, 2020.
Cosmax Inc is a Korea-based company mainly engaged in the production and sale of cosmetics. The Company produces and sells cosmetics in the form of original development & design manufacturing (ODM). The Company is engaged in the manufacture and sale of skincare, makeup, Korean herbal cosmetics, fragrances, mask sheets and nail polish. Skincare products include skin lotions, creams, cleansings and essences. Makeup products include makeup bases, foundations, concealers, face powders, eyeshadows, eye liners, mascara, lipsticks and primers. The Company distributes its products in domestic and overseas markets such as China, Indonesia and America.
COSMAX, INC. 
