Jaehyun Electronics Co., Ltd. cancelled the acquisition of unknown stake in Hanyang Semiconductor Co., Ltd. from Hanyang Digitech Co.,Ltd..
June 24, 2020
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Jaehyun Electronics (Suzhou) Co., Ltd. agreed to acquire unknown stake in Hanyang Semiconductor (Wujiang) Co., Ltd. from Hanyang Digitech Co.,Ltd. (KOSDAQ:A078350) for KRW 10.4 billion on June 25, 2019. The consideration will be paid in cash such that for half of the amount Jaehyun Electronics (Suzhou) Co., Ltd. opens a bank account (escrow) and for the balance within five days of approval of government agencies (common country, foreign exchange bureau, etc.). For the year ended December 31, 2018, Hanyang Semiconductor (Wujiang) Co., Ltd. reported total assets of KRW 22 billion, sales of KRW 18.7 billion and net income of approximately KRW 220 million. The transaction is expected to close on July 31, 2019. Shinwoo Accounting Corporation acted as External Evaluation Body in the transaction.
Jaehyun Electronics (Suzhou) Co., Ltd. cancelled the acquisition of unknown stake in Hanyang Semiconductor (Wujiang) Co., Ltd. from Hanyang Digitech Co.,Ltd. (KOSDAQ:A078350) on June 25, 2020.
HANYANG DIGITECH CO., LTD. is a Korea-based company principally engaged in the manufacture and sale of memory modules. The Company operates its business through three segments. The Memory Module segment produces memory devices including dynamic random access memory (DRAM) memory modules used in personal computers, communication equipment, as well as memory modules used in servers. The Internet Protocol (IP) Communication segment manufactures devices consisting of voice over IP (VoIP) terminals, high speed Internet modems, and converged home gateways, among others. The Other segment involves in the real estate lease business.
HANYANG DIGITECH CO., LTD. 
