SK Holdings Co., Ltd. and Paratus the 1st Special Purpose Company LLC completed the acquisition of 24.31% stake in Bioland Co., Ltd. from Taek-Seon Lee, In-Kyung Im, Young-Kyu Lee, Taek-Wan Lee and Interlees Ltd.
December 30, 2014 at 11:00 pm EST
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SK Holdings Co., Ltd. (KOSE:A003600) entered into a contract to acquire additional 24.31% stake in Bioland Co., Ltd. (KOSDAQ:A052260) from Taek-Seon Lee, In-Kyung Im, Young-Kyu Lee, Taek-Wan Lee and Interlees Ltd. for KRW 69.3 billion on October 21, 2014. SK Holdings Co., Ltd. will acquire 3.65 million shares for KRW 19000 per share and on completion will hold 34.05% stake in Bioland Co., Ltd. The transaction will be done in two stages wherein first acquisition will involve purchase of 2.07 million shares with a sale amount of KRW 39.3 billion and second acquisition will involve purchase of 1.58 million shares with a sale amount of KRW 29.9 billion. The payment for first will be on the day when the pre-requisites are fulfilled or exempted for the closing of the first balance payment and second transaction amount is payable by December 27, 2014. The second acquisition/sales of shares can be bought by the third party, which will be selected by SKC.
As on October 28, 2014, SK Holdings Co., Ltd. (KOSE:A003600) completed the first acquisition of 2.07 million shares representing 13.8%. SK Holdings Co., Ltd. (KOSE:A003600) and Paratus the 1st Special Purpose Company LLC. Amended the agreement and decided to acquire 24.31% stake in Bioland Co., Ltd. (KOSDAQ:A052260) from Taek-Seon Lee, In-Kyung Im, Young-Kyu Lee, Taek-Wan Lee and Interlees Ltd. for KRW 69.3 billion on November 27, 2014. SK Holdings Co., Ltd. acquired 2.07 million shares for KRW 39.34 billion. Paratus the 1st Special Purpose Company LLC will acquire 1.58 million shares for KRW 29.93 billion. As of November 27, 2014, SK Holdings holds 23.55% stake in Bioland.
SK Holdings Co., Ltd. and Paratus the 1st Special Purpose Company LLC completed the acquisition of 24.31% stake in Bioland Co., Ltd. (KOSDAQ:A052260) from Taek-Seon Lee, In-Kyung Im, Young-Kyu Lee, Taek-Wan Lee and Interlees Ltd. on December 1, 2014.
Hyundai Bioland Co Ltd, formerly SK Bio Land Co Ltd, is a Korea-based company mainly engaged in the development and manufacture of raw materials for cosmetics. The Company operates its business through four segments. The Cosmetic Raw Material segment produces products such as portulaca extracts, ulmus extracts, crinum extracts, hyaluronic acids and arbutins. The Pharmaceutical Ingredient segment manufactures and sells products such as phellodendron extracts, ampelopsis extracts and gardenia extracts and others. The Ingredients for Health Functional Food segment produces and distributes red ginseng extract powders, seaweed powders, glucosamine powders, black garlic extract powders, dandelion extract powders, green tea extracts and others. The Medical Device segment involves in the provision of medical equipment such as tissue engineering products, comprised of biological wound dressings and collagen, as well as diagnostic kits, comprised of rapid kits, serological kits and mask packs.
SK Holdings Co., Ltd. and Paratus the 1st Special Purpose Company LLC completed the acquisition of 24.31% stake in Bioland Co., Ltd. from Taek-Seon Lee, In-Kyung Im, Young-Kyu Lee, Taek-Wan Lee and Interlees Ltd.
HYUNDAI BIOLAND CO.,LTD 
