Ewon Comfortech Co., Ltd. completed the acquisition of 50% stake in Bit Galaxia Investment Fund 1 from Jaewook Kim CST Co., Ltd. and Jaram Advisory Co., Ltd.
August 18, 2020
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Ewon Comfortech Co., Ltd. (KOSDAQ:A088290) agreed to acquire 50% stake in Bit Galaxia Investment Fund 1 from Jaewook Kim, Jaram Advisory Co., Ltd .and CST Co., Ltd. for KRW 30 billion on June 8, 2020. Under the terms of this transaction, Ewon will acquire 749 shares and paid deposit of KRW 12 billion, the interim payment of KRW 8 billion will be paid 15 days before Bucket shareholders' meeting and remaining KRW 10 billion will be paid 2 days before the temporary shareholders' meeting, including Bucket Studio Co., Ltd. by August 7, 2020. As a part of the transaction, 615 shares will be acquired from Jaewook Kim and 134 shares were acquired from Jaram Advisory. The balance payment of KRW 10 billion will be paid 2 days before the temporary shareholders meeting including bucket studio by August 28, 2020. The consideration will be paid in cash. Bit Galaxia reported total assets of KRW 25.9 billion and net assets of KRW 14.9 billion in 2019. This transaction is expected to close on August 19, 2020.
Ewon Comfortech Co., Ltd. (KOSDAQ:A088290) completed the acquisition of 50% stake in Bit Galaxia Investment Fund 1 from Jaewook Kim, Jaram Advisory Co., Ltd and CST Co., Ltd. on August 19, 2020
EWON COMFORTECH CO., LTD. is a Korea-based company engaged in the manufacturing of automobile parts. The Company's products portfolio consists of automobile seats, which include air suspension seats, spring suspension seats and general stationary seats; interior products, which consist of roof and side ceiling panels, luggage racks and sound absorption materials, as well as truck beds. Its products are used for commercial vehicles, trucks, buses and other motor vehicles. The Company distributes its products in both domestic and overseas markets.
Ewon Comfortech Co., Ltd. completed the acquisition of 50% stake in Bit Galaxia Investment Fund 1 from Jaewook Kim CST Co., Ltd. and Jaram Advisory Co., Ltd.