H.PIO Co., Ltd. agreed to acquire a 65% stake in Geoinfotech Innovation Co., Ltd. from Water Bear Cape 1st New Technology Business Fund for KRW 15.2 billion.
December 28, 2021
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H.PIO Co., Ltd. (KOSDAQ:A357230) agreed to acquire a 65% stake in Geoinfotech Innovation Co., Ltd. from Water Bear Cape 1st New Technology Business Fund for KRW 15.2 billion on December 29, 2021. As part of the transaction, H.PIO will acquire 22,609 shares in Geoinfotech. As of November 2021, Geoinfotech reported total assets of KRW 20.4 billion and total equity of KRW 11.5 billion.
The transaction is expected to complete on December 31, 2021.
H Pio Co Ltd is a Korea-based company principally engaged in the manufacture of health functional food. The Company manufactures and sells health functional foods such as probiotics, vitamins, collagen, lactium, omega 3, prebiotics, xantigen, and lutein. The Company's products are used to improve stomach, generate energy in the body, improve blood circulation, moisturize skin, improve sleep quality, and improve eye fatigue, among others.
H.PIO Co., Ltd. agreed to acquire a 65% stake in Geoinfotech Innovation Co., Ltd. from Water Bear Cape 1st New Technology Business Fund for KRW 15.2 billion.