AID Partners GP Holdings Limited cancelled the acquisition of Alpha Mark Limited from ACT Co., Ltd..
November 14, 2019
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AID Partners GP Holdings Limited signed a contract to acquire Alpha Mark Limited from ACT Co., Ltd. (KOSDAQ:A138360) for KRW 20 billion on August 11, 2019. Under the terms of the transaction, ACT Co., Ltd will transfer its entire 1 share of Alpha Mark Limited. Out of total consideration, KRW 500 million is scheduled to be received within 2 business days from the date of conclusion of the contract and the balance of KRW 19.5 billion will be received within 7 days from the contract date. Post transaction, ACT Co., Ltd. will hold no stake in Alpha Mark Limited. Alpha Mark Limited reported total assets of KRW 1.98 billion, net assets of KRW 1.98 billion and net loss of KRW 1.7 million for the year 2018. The Board of Directors of ACT Co., Ltd. resolved the transaction on November 8, 2019. The sale is expected to complete on November 13, 2019.
AID Partners GP Holdings Limited cancelled the acquisition of Alpha Mark Limited from ACT Co., Ltd. (KOSDAQ:A138360) on November 15, 2019. As a result of new stock sale agreement this agreement was cancelled. All stock trading agreements were terminated by mutual agreement in accordance with the existing Stock Trading Agreement.
Hyupjin Co Ltd, formerly ACT Co Ltd is a Korea-based company engaged in the manufacture and sale of raw materials of cosmetics. The Company provides bioconversion technology products, encapsulated products, natural extracts, synthetic products and others. Its products include Aquatouch L, which is made of glycerin, dimethicone, water and lecithin; Silkytouch L, which is made of water, dimethicone, glycerin, palmitoyl inulin, behenyl alcohol and 1,2 hexanediol; Phytoact Reliefer, which is made of phaseolus radiates seed extract, avena sativa meal extract, ethyhexylglycerin and others, as well as PhytoAct CosyPlex, Actosome InoCeramide E06, Actosome Retinol850, Actosome Retinal Palmitate, Actostem GinElixir and Actosome Deage, among others. It also provides electronic materials.
HYUPJIN CO., LTD. 