IMM Rose Gold III managed by IMM Private Equity, Inc. completed the acquisition of 60% stake in W Concept Korea Co.,LTD from ISE Commerce Company Limited.
November 29, 2017
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IMM Rose Gold III managed by IMM Private Equity, Inc. agreed to acquire 60% stake in W Concept Korea Co.,LTD from ISE Commerce Company Limited (KOSDAQ:A069920) for KRW 61.2 billion on October 16, 2017. IMM Rose Gold III will acquire 0.29 million shares of W Concept Korea. Under the terms of the transaction, payment is expected to be carried out from November 30, 2017 to December 29, 2017. First payment of KRW 55.2 billion will be done on November 30, 2017 on which date, the shares will also be transferred to IMM Private Equity. Post transaction, ISE Commerce Company Limited will hold 0.09 million shares representing 20% stake in W Concept Korea. W Concept Korea Co.,LTD reported total assets of KRW 24 billion and net assets of KRW 8.6 billion as of December 31, 2016 and revenues of KRW 16.6 billion and net profit of KRW 1.8 billion for the year ended December 31, 2016. The transaction is resolved by the Board of ISE Commerce Company Limited. The transaction is expected to close on November 30, 2017. YeKyo Accounting Corporation acted as external rating institution.
IMM Rose Gold III managed by IMM Private Equity, Inc. completed the acquisition of 60% stake in W Concept Korea Co.,LTD from ISE Commerce Company Limited (KOSDAQ:A069920) in November 2017.
ISE Commerce Company Limited is a Korea-based company engaged in the electronic commerce business. The Company engages in the provision of overseas and domestic shopping agency services through Internet catalogues: WIZWID, SKINRx, HauOlin, Sports25 and others. WIZWID provides apparels, shoes, bags and others. SKINRx mainly provides skin care products, body and hair care products, make-ups, fragrances and others. HauOlin provides living and home related items such as fabrics, furniture, kitchen and bath appliances and others. Sports25 principally provides leisure lifestyle sports goods. The Company also involves in the offline business, operating Wconcept store, Ntrend project, HanOlin store, and Jinny Kim Store. On April 1, 2013, the Company divested its brand-Jinny Kim business into a newly established wholly owned subsidiary.
IMM Rose Gold III managed by IMM Private Equity, Inc. completed the acquisition of 60% stake in W Concept Korea Co.,LTD from ISE Commerce Company Limited.
ISE COMMERCE COMPANY LIMITED 