Hyundai HCN Co.,Ltd. completed the acquisition of 27.94% stake in SKbioland Co., Ltd. from SKC Co., Ltd..
October 05, 2020
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Hyundai HCN Co.,Ltd. (KOSE:A126560) agreed to acquire 27.94% stake in SKbioland Co., Ltd. (KOSDAQ:A052260) from SKC Co., Ltd. (KOSE:A011790) for approximately KRW 120 billion on August 18, 2020. The consideration of KRW 12 billion will be paid on August 18, 2020 and remaining KRW 108 billion will be paid on October 16, 2020. SKC Co., Ltd. will not hold any stake in SKbioland Co., Ltd. after this transaction. Upon completion of the payment of the transfer payment and the completion of the stock transfer, related disclosure will be made when the change of the largest shareholder is confirmed. The expected sales date and the expected change date may be changed according to the approval schedule of the relevant authorities in accordance with domestic and international laws and regulations. The transaction is expected to close on October 6, 2020. Credit Suisse Group AG (SWX:CSGN) acted as financial advisor to SKC Co., Ltd. in the transaction.
Hyundai HCN Co.,Ltd. (KOSE:A126560) completed the acquisition of 27.94% stake in SKbioland Co., Ltd. (KOSDAQ:A052260) from SKC Co., Ltd. (KOSE:A011790) on October 6, 2020. Jae-young Jang of Shin & Kim acted as the legal advisor in the transaction.
Hyundai Futurenet Co Ltd is a Korea-based company principally engaged in the digital signage business. The Company operates its business through four segments. The Signage Business segment is engaged in the provision of video contents such as information, entertainment advertisement and others through display screens. The Messaging Business segment is engaged in the provision of message agency services sent by corporates used for reservation, order confirmation, and delivery to customers as well as advertising and other purposes. The Immersive Contents Business segment is engaged in the provision of media art exhibitions and operation of museums. The Cosmetic Materials Business segment is engaged in the manufacture and sale of raw materials for cosmetics, health functional food and other products.
HYUNDAI FUTURENET CO., LTD. 
