LG Household & Health Care Ltd. (KOSE:A051900) agreed to acquire 56.04% stake in Boinca Inc. for approximately KRW 120 billion on August 31, 2021. Boinca reported total assets of KRW 12.4 billion, total debt of KRW 695 million, total equity of KRW 11.7 billion, sales of KRW 42.5 billion and net income of KRW 11.7 billion as of December 31, 2020. The transaction is expected to complete on August 31, 2021.
LG Household & Health Care Ltd. (KOSE:A051900) completed the acquisition of 56.04% stake in Boinca Inc. on September 14, 2021. Mark Brutzkus and Stuart Kim of Brutzkus Gubner Rozansky Seror Weber acted as legal advisors to LG Household & Health Care.