C&KY Holdings Co., Ltd. completed the acquisition of 14.14% stake in HDPRO Co., Ltd. from KODI CO., LTD.
October 29, 2017
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C&KY Holdings Co., Ltd. agreed to acquire 14.14% stake in HDPRO Co., Ltd. (KOSDAQ:A214870) from KODI CO., LTD (KOSDAQ:A080530) for KRW 10.6 billion on October 10, 2017. C&KY Holdings Co., Ltd. will acquire 0.86 million shares of HDPRO Co., Ltd. from KODI CO., LTD. A deposit of KRW 1.5 billion will be paid on October 11, 2017 upon the signing of contract and balance KRW 9.1 billion will be paid until October 23, 2017. KODI CO., LTD will not hold any shares in HDPRO Co., Ltd. on closing. As per the amendment received on October 23, 2017, a deposit of KRW 1.5 billion will be paid on October 11, 2017, second payment of KRW 3.5 billion paid on October 23, 2017 and the balance amount of KRW 5.6 billion to be paid on October 30, 2017. As of October 23, 2017, approximately 0.26 million shares of HDPRO Co., Ltd. were transferred and remaining 0.59 million shares is to be transferred on October 30, 2017.
Board of Directors of KODI CO., LTD passed resolution with respect to the transaction on October 10, 2017. Scheduled date of the transaction is October 23, 2017. As per the amendment received on October 23, 2017, the transaction is expected to complete on October 30, 2017. Samhwa Accounting Corporation acted as external rating institution in the transaction.
C&KY Holdings Co., Ltd. completed the acquisition of 14.14% stake in HDPRO Co., Ltd. (KOSDAQ:A214870) from KODI CO., LTD (KOSDAQ:A080530) on October 30, 2017. The balance payment was completed on October 11, 2017.
KODI Co.,LTD., formerly KODI-S CO.,LTD. is a Korea-based company principally engaged in the manufacturing of semiconductor testing equipment. The Company operates its business under two segments: display segment and energy segment. Its display segment mainly produces probe units and probe cards used for testing thin film transistor liquid crystal displays (TFT-LCDs), light emitting diodes (LEDs) and semiconductors, and organic light emitting diodes (OLEDs) manufacturing equipment. Its energy segment produces chargers, batteries and battery management systems (BMSs) for electrical vehicles, industrial vehicles, bicycles, autonomous guided vehicles (AGVs) and others. The Company mainly supplies its products to domestic market.