Gold Pacific Co., Ltd. cancelled the acquisition of an additional 16.4% stake in Incon Co., Ltd. from H.Anderson Co., Ltd.
July 28, 2020
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Gold Pacific Co., Ltd. (KOSDAQ:A038530) entered into an agreement to acquire an additional 16.4% stake in Incon Co., Ltd. (KOSDAQ:A083640) from H.Anderson Co., Ltd. for KRW 44.2 billion on July 29, 2019. Under the terms of the transaction, Gold Pacific Co., Ltd. will acquire 11.4 million at KRW 3,000 per share. Out of total consideration, KRW 6 billion will be paid on July 29, 2019 as deposit, KRW 10 billion will be paid on August 20, 2019, KRW 8.23 billion will be paid in cash and remaining KRW 10 billion will be paid by the convertible bonds issuance by Gold Pacific Co., Ltd. Transaction will be funded from convertible bonds and self funded funds. Upon completion, Gold Pacific Co., Ltd. will become largest shareholder with 21.46% stake and H.Anderson Co., Ltd. will hold no stake in Incon Co., Ltd. The transaction is expected to close on September 17, 2019. As of September 5, 2019, completion is expected on October 1, 2019.
Gold Pacific Co., Ltd. (KOSDAQ:A038530) cancelled the acquisition of an additional 16.4% stake in Incon Co., Ltd. (KOSDAQ:A083640) from H.Anderson Co., Ltd. on July 29, 2020.
KBio Company Inc, formerly Gold Pacific Co Ltd, is a Korea-based company primarily engaged in the bio distribution business. The Company operates its business through three segments. The Bio Distribution segment is engaged in the supply of research reagents and consumables to each customer through hospitals, universities, research institutes, and dealers. The Fashion segment is engaged in the production and sale of products such as handmade leather goods, clothing, and accessories. The Other segment is engaged in the fashion promotion business and other businesses.
KBIO COMPANY INC. 
