DAE HWA Pharmaceutical Co., Ltd. cancelled the acquisition of REDOXBIL CO.,LTD.
July 31, 2014 at 12:00 am EDT
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DAE HWA Pharmaceutical Co., Ltd. (KOSE:A067080) agreed to acquire REDOXBIL CO.,LTD. for KRW 1.1 billion in cash on July 31, 2013. DAE HWA Pharmaceutical Co., Ltd. is acquiring 0.09 million shares of REDOXBIL CO.,LTD. representing 100% stake. DAE HWA Pharmaceutical will sell 0.07 million of its treasury stock to satisfy 50% of the acquisition consideration. For the period ending December 31, 2012, REDOXBIL CO.,LTD. reported total assets of KRW 985 million, total liabilities KRW 764 million, net assets of KRW 221 million, sales of KRW 97 million and net loss of KRW 264 million. The Board of Directors of DAE HWA Pharmaceutical resolved to go ahead with the deal on July 31, 2013. The deal is expected to close on August 22, 2013.
DAE HWA Pharmaceutical Co., Ltd. (KOSE:A067080) cancelled the acquisition of REDOXBIL CO.,LTD. on July 31, 2014.
DAE HWA PHARM CO.,LTD. is a Korea-based company engaged in the manufacture of pharmaceuticals. The Companyâs products include skeletal muscle relaxants, gastro-intestinal drugs, corticosteroids, antihistamines, cardiovascular drugs, drugs for liver diseases, vitamins, tonics, antibiotics, injections, topical drugs, anti-inflammatory enzymes, analgesics, antipyretics, plaster, cough suppressants, expectorants and mucolytics, drugs for hemorrhoid disease and other prescription drugs, as well as over-the-counter (OTC) drugs. The Company distributes its products within domestic market and to overseas markets. On August 22, 2013, it acquired a certain shares of a Korea-based company, which is mainly engaged in the manufacture of medicine raw materials and development of medical devices. After the transaction, the Company held a 100% stake of the Korea-based company.
DAE HWA PHARMACEUTICAL CO., LTD. 