DUAL Co.,Ltd. (KOSE:A 016740) signed an agreement to acquire 95% stake in AB Borgstena Textile from Herenco AB, Pomona Gruppen AB and Larsson Industrier I Smalandsstenar Ab for KRW 62.4 billion.
July 27, 2017
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DUAL Co.,Ltd. (KOSE:A 016740) signed an agreement to acquire 95% stake in AB Borgstena Textile from Herenco AB, Pomona Gruppen AB and Larsson Industrier I Smalandsstenar Ab for KRW 62.4 billion on July 28, 2017. Under the terms, DUAL Co will acquire approximately 0.05 million shares of AB Borgstena in cash. The consideration will be funded from own funds and paid-in capital increase. For the year ended December 31, 2016, Borgstena reported sales of KRW 90.1 billion, total assets of KRW 67.2 billion and net profit of KRW 6.4 billion. As on July 28, 2017, the transaction was resolved by Board of Directors of DUAL Co. The transaction is expected to be completed on September 1, 2017. PricewaterhouseCoopers Korea acted as accountant for DUAL Co. Richard Åkerman, Patrik Erblad and David Riihonen of Hannes Snellman Attorneys Ltd acted as legal advisors to DUAL Co. Danske Bank A/S acted as a financial advisor to DUAL Co. Danske Bank A/S, Danmark,Sverige Filial acted as finanvial advisor for Herenco AB, Pomona Gruppen AB and Larsson Industrier i Smålandsstenar AB.
DUAL Co., Ltd is a Korea-based company primarily engaged in the manufacture and distribution of automotive interior products. The Companyâs products include car seat fabrics, seat coverings, airbags and carpet molding products. The Company distributes its products within domestic market and to overseas markets.
DUAL Co.,Ltd. (KOSE: A 016740) signed an agreement to acquire 95% stake in AB Borgstena Textile from Herenco AB, Pomona Gruppen AB and Larsson Industrier I Smalandsstenar Ab for KRW 62.4 billion.
DUAL CO., LTD. 
