Emoda Co., Ltd., Fashion Group Hyungji Co., Ltd. and Woosung I&C Co. Ltd. completed the acquisition of 14.46% stake in Elite Basic Inc..
September 16, 2013
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Emoda Co., Ltd., Fashion Group Hyungji Co., Ltd. and Woosung I&C Co. Ltd. (KOSE:A011080) signed an agreement to acquire 14.46% stake in Elite Basic Inc. (KOSE:A093240) from Hong Jong Sun and five related parties for KRW 18.4 billion on September 16, 2013. As part of the transaction, Emoda Co., Ltd. is acquiring 0.57 million shares of Elite Basic Inc. representing 5.58% stake, Fashion Group Hyungji Co., Ltd. is acquiring 0.49 million shares representing 4.78% stake as equity stake acquisition and Woosung I&C Co. Ltd. is acquiring 0.4 million shares. The offer per share for the transaction is KRW 12,400. The equity transfer is expected to close on November 4, 2013.
Emoda Co., Ltd., Fashion Group Hyungji Co., Ltd. and Woosung I&C Co. Ltd. (KOSE:A011080) completed the acquisition of 14.46% stake in Elite Basic Inc. (KOSE:A093240) on September 17, 2013.
HYUNGJI Innovation and Creative Company Limited, formerly WOOSUNG INNOVATION & CREATIVE Co.,Ltd is a Korea-based company engaged in the manufacture and marketing of menâs apparels. The Company has four principal brands: YEZAC, which is a luxury styling dress shirt brand targeting customers in their twenties to forties; LANVIN, which is a licensed brand targeting customers in their twenties to fifties; BON, a casual brand targeting consumers in twenties and thirties, and BON-g.floor, a casual brand targeting consumers in twenties. The Company distributes its products through department stores, sales agencies and discount stores. On Aril 30, 2014, it merged with Emoda,Co.,Ltd., which is engaged in the manufacture and distribution of women garments.
HYUNGJI INNOVATION & CREATIVE CO.,LTD 
