Soulbrain Co.,Ltd. completed the acquisition of 24.78% stake in Genic Co., Ltd. from Hyun-ho Yoo.
October 29, 2015
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Soulbrain Co.,Ltd. (KOSDAQ:A036830) signed a contract to acquire 24.78% stake in Genic Co., Ltd. (KOSDAQ:A123330) from Hyun-ho Yoo and 4 other individuals for KRW 70 billion on September 24, 2015. Soulbrain will acquire 1.6 million shares at KRW 43,680 per share. Soulbrain will pay KRW 7 billion as deposit on September 24, 2015 and KRW 62.99 billion will be paid after closing of due diligence and the balance payment date is expected to be December 31, 2015. The transaction is expected to close on December 31, 2015. Ernst & Young, Korea acted as valuer in the deal.
Soulbrain Co.,Ltd. (KOSDAQ:A036830) completed the acquisition of 24.78% stake in Genic Co., Ltd. (KOSDAQ:A123330) from Hyun-ho Yoo on October 30, 2015.
GENIC Co., Ltd is a Korea-based company engaged in the manufacture of cosmetic products. The Companyâs products consist of gel masks, essence masks, gel eye patches, self-heating masks, cleaners, basics and other skin care products, makeup products, hair care products, perfumes, as well as men cosmetics, body care products and manicures. The Company markets its products under the brand names of Cel-Derma, Lasante, Puretree and others. The Company distributes its products within domestic market and to overseas markets.
GENIC CO., LTD. 
