InterVest Co., Ltd. completed the acquisition of 10.97% stake in Glluga Inc from Echomarketing Co., Ltd..
September 20, 2020
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InterVest Co., Ltd. agreed to acquire 10.97% stake in Glluga Inc from Echomarketing Co., Ltd. (KOSDAQ:A230360) for KRW 12 billion on September 4, 2020. Echomarketing Co., Ltd. (KOSDAQ:A230360) will sell 90,091 shares. Post completion Echomarketing Co., Ltd. will hold 0.21 million shares representing 14% stake in Glluga Inc. The transaction is expected to close in September 21, 2020. KPMG acted as a due diligence advisor to InterVest Co., Ltd. in the deal.
InterVest Co., Ltd. completed the acquisition of 10.97% stake in Glluga Inc from Echomarketing Co., Ltd. (KOSDAQ:A230360) on September 21, 2020.
Echo Marketing Co Ltd is a Korea-based company principally engaged in the manufacture and sale of apparel products. The Company operates its business through four segments. The Clothing Manufacturing and Sales segment is engaged in the manufacture and sale of yoga wear, leggings, slacks and other clothing products. The Direct to Consumer (D2C) Commerce segment is engaged in the provision of e-commerce services. The Advertising Agency Service segment is engaged in the provision of advertising agency service for search engines, advertising agency service for play devices and other services. The Others segment is engaged in the investment businesses.
ECHOMARKETING CO.,LTD. 
