Cosnine Co., Ltd. cancelled the acquisition of 15.11% stake in Spofeed Co., Ltd. from Kwangmu Co.,Ltd..
December 28, 2022
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Cosnine Co., Ltd. (KOSDAQ:A082660) agreed to acquire 15.11% stake in Spofeed Co., Ltd. from Kwangmu Co.,Ltd. (KOSDAQ:A029480) for KRW 8 billion on October 13, 2022. Transaction will be financed from acquirer own funds. For the year ended December 2021, Spofeed reported Total assets of KRW 12 billion, Total debt of KRW 4 billion, total common equity of KRW 8 billion, and Net loss of KRW 632 million. Transaction is expected to close on November 30, 2022. As of November 30, 2022 ,the transaction is expected to close on December 29, 2022.
Cosnine Co., Ltd. (KOSDAQ:A082660) cancelled the acquisition of 15.11% stake in Spofeed Co., Ltd. from Kwangmu Co.,Ltd. (KOSDAQ:A029480) for KRW 8 billion on December 29. 2022.
Kwangmu Co Ltd, formerly Lix Solution Co Ltd, is a Korea-based company mainly engaged in the provision of network and system integration services. The Company operates its business through five segments. The Network Business segment is engaged in system construction and development business such as service infrastructure design and customer-customized system development. The Maintenance Business segment provides network integrated maintenance services. The Information Technology Outsourcing (ITO) Business segment provides network equipment rental services. The Other Business segment provides 3D cinema systems and 3D camera systems and engages in real estate rental business. The Semiconductor Distribution segment distributes products related to memory semiconductors and provides smart solutions.