GigaLane Co., Ltd. cancelled the acquisition of 75% stake in Wesolution Co., Ltd. from Jeon, Jaehong.
August 10, 2018
Share
GigaLane Co., Ltd. (KOSDAQ:A049080) agreed to acquire 75% stake in Wesolution Co., Ltd. from Jeon, Jaehong for KRW 13.2 billion on August 11, 2017. Under the terms of the transaction, GigaLane Co., Ltd. will acquire 3 million shares. The consideration will be paid in cash under which KRW 9.9 billion will be paid as deposit on August 11, 2017 and the remaining KRW 3.3 billion will be paid on August 18, 2017. Consideration will be funded by using paid in capital increase and own funds. During the financial year ended December 2016, Wesolution Co., Ltd. reported total assets of KRW 19.9 billion, sales of KRW 16.3 billion, net profit of KRW 839 million and total capital of KRW 6.3 billion. The transaction was resolved by the Board of GigaLane Co., Ltd. The expected closing date for the transaction is scheduled for August 18, 2017. Hanmi Accounting Corporation acted as an external rating institute for GigaLane Co., Ltd.
GigaLane Co., Ltd. (KOSDAQ:A049080) cancelled the acquisition of 75% stake in Wesolution Co., Ltd. from Jeon, Jaehong on August 11, 2018.
GIGALANE Co.,Ltd. is a Korea-based company mainly engaged in the manufacture of radio frequency (RF) communication components and semiconductor equipment. The Company operates its business through three divisions: RF communication component division, semiconductor equipment division and other business division. Its RF communication component division engages in the manufacture of RF cable assemblies and RF connectors used for smart devices under the brand names of SCMP, SCMJ and others. Its semiconductor equipment division provides light-emitting diode (LED) and deep reactive ion etching (DRIE) etcher parts used for semiconductors. Its other business division provides inspection components, including probe cards and probe units. The Company distributes its products within domestic market and to overseas markets.
GIGALANE CO.,LTD. 
