E-World Co., Ltd. signed a contract to acquire Jewelry Business of E. Land World Company, Ltd for KRW 220 billion.
December 19, 2018
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E-World Co., Ltd. (KOSE:A084680) signed a contract to acquire Jewelry Business of E. Land World Company, Ltd for KRW 220 billion on December 20, 2018. The consideration will be paid in cash in one installment in the first quarter of 2019. The transaction will be financed through issuance of bonds and third party allocation by E-World Co., Ltd. Jewelry Business of E. Land World Company generated sales of KRW 176.7 billion and total assets of KRW 59 billion for the year ended December 31, 2017. The transaction is subject to approval by shareholders of E-World Co., Ltd. at a meeting to be held on January 29, 2019. The transaction is resolved by the Board of E-World Co., Ltd and E.LAND Co., Ltd. As on January 29, 2019, the transaction has been approved by the shareholders of E-World Co., Ltd. The transaction is expected to complete on January 31, 2019. Shinah Accounting Corporation acted as external rating institution.
E-WORLD CO.,LTD. is a Korea-based company engaged in the operation of amusement facilities. The Company operates amusement facilities such as ghost houses, aladdins, flume rides, Andersen house, Vikings, tambourines, sky cabs, roller coasters, merry-go-round, eagle formations, bumper cars, boomerangs, balloons travels, flying elephant, mini Vikings, magic trains, jumping frogs, dancing airplanes, mini cars, camel backs, top spins, ice rinks and animal farms, as well as 83 tower. It also holds four seasons flower festivals and seasonal festivals such as summer night festival, autumn chrysanthemum festival, winter white festival and others. The Companyâs affiliated company is engaged in the operating of cruise ships, inland marine transportation, food service business and cooking retail business.
E-WORLD CO.,LTD. 
