Metalabs Co., Ltd. acquired remaining 20.9% stake in Mojelim Co.,Ltd. from Prometheus Partners & Company Limited for KRW 7 billion.
March 24, 2019
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Metalabs Co., Ltd. acquired remaining 20.9% stake in Mojelim Co.,Ltd. from Prometheus Partners & Company Limited for KRW 7 billion on March 25, 2019. The consideration was paid in cash. Metalabs acquired 0.22 million shares. Post transaction, Metalabs holds 100% stake in Mojelim. The transaction will be funded from the previously issued convertible bonds. As of December 31, 2018, Mojelim reported total capital of KRW 7.5 billion and total assets of KRW 9.8 billion. For the year ended December 31, 2018, Mojelim reported sales of KRW 15.3 billion and net profit of KRW 2.3 billion. The Board of Directors of Metalabs resolved the acquisition on March 25, 2019. Samyoung Accounting Corporation acted as the external rating institution.
Metalabs Co., Ltd. completed the acquisition remaining 20.9% stake in Mojelim Co.,Ltd. from Prometheus Partners & Company Limited on March 25, 2019.
METALABS CO., LTD., formerly AVISTA INC., is a Korea-based company mainly engaged in the casual apparel business. The Company produces and sells casual apparel and accessories under the brand of BNX, which is feminine and romantic character for women in their twenties; TANKUS, which is casual apparel with detailed design and dynamic color and fabrics; eryn brinie, which is soft and simple character casual apparel, and Kai-aakmann, which is feminine and masculine look character for men and women in their twenties. In addition, it is engaged in the overseas wholesale and retail of products through its affiliates in Shanghai, New York and Milano.
METALABS CO., LTD. 
