Metalabs Co., Ltd. agreed to acquire NCL Bio. Co., Ltd from group of sellers for KRW 20 billion.
May 08, 2018
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Metalabs Co., Ltd. (KOSE:A090370) agreed to acquire NCL Bio. Co., Ltd from group of sellers for KRW 20 billion on May 9, 2018. Under the terms, Metalabs Co., Ltd will acquire 3 million shares of NCL Bio. Co., Ltd. The consideration is paid in cash and Metalabs Co., Ltd will pay an amount of KRW 997.5 million as deposit on May 9, 2018 and the remaining consideration of KRW 19 billion will be paid on May 30, 2018. As of May 21, 2018, the remaining consideration will be paid on May 28, 2018. The transaction is funded by Metalabs Co., Ltd own funds and paid-in capital increase.
As of December 31, 2017, NCL Bio. Co., Ltd reported total assets of KRW 3.1 billion and net assets of KRW 2.5 billion. For the period ending December 31, 2017, NCL Bio. Co., Ltd reported sales of KRW 3.03 billion and net profit of KRW 947.5 million. The transaction has been resolved by the Board of Directors of Metalabs Co., Ltd on May 9, 2018. The transaction is expected to be completed on May 30, 2018. As of May 21, 2018, the transaction expected closing date is revised to May 28, 2018. Samyoung Accounting Corporation acted as External Rating Institution in a transaction.
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. 
