Bumhan Industries Co., Ltd. and Metistone Equity Partners Co., Ltd. agreed to acquire Doosan Mecatec Co., Ltd. from Doosan Enerbility Co., Ltd. (KOSE:A034020) for approximately KRW 120 billion on June 3, 2022. Under the terms, Bumhan Industries and Metistone Equity will pay KRW 90 billion on completion, KRW 15 billion will be paid three times (April 28, 2023, April 30, 2024, and April 30, 2025, respectively) will be paid in installments. In addition Doosan Enerbility may receive an additional payment of up to KRW 14.9 billion when certain conditions are met after the issuer's transaction is closed. In 2021, Doosan Mecatec reported Total assets of KRW 612.8 billion, Total Debt of KRW 333.02 billion, total equity of KRW 279.8 billion, revenue of KRW 294.14 billion, and Net Income of KRW 7.45 billion. The transaction is expected to complete on July 29, 2022.
Howard Lee, Victor Chang and Sangbin Kim of BDA Partners acted as a financial advisor to Doosan Enerbility.