KODI CO., LTD agreed to acquire Shinhwan Costec Co., Ltd. for KRW 26.5 billion.
September 26, 2018
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KODI CO., LTD (KOSDAQ:A080530) agreed to acquire Shinhwan Costec Co., Ltd. for KRW 26.5 billion on September 27, 2018. A total of 0.04 million shares will be acquired as part of the deal. KRW 16.45 billion will be paid on September 28, 2018 and the remaining amount will be paid on date agreed by the parties.
Shinhwan Costec Co., Ltd. reported net assets of KRW 8.25 billion, total assets of KRW 11.94 billion, sales of KRW 18.77 billion and net profit of KRW 2.02 billion as of December 31, 2017. Board of KODI CO., LTD (KOSDAQ:A080530) resolved in favor of the deal on the same date. Daejoo Accounting Corporation acted as external rating institution.
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.