Metalabs Co., Ltd. cancelled the acquisition of remaining 40% stake in East Nine Co., Ltd.
April 22, 2019
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Metalabs Co., Ltd. (KOSE:A090370) agreed to acquire remaining 40% stake in East Nine Co., Ltd. for KRW 960 million on April 23, 2018. Under the terms of the transaction, Metalabs Co., Ltd. will acquire 8,000 shares. For the year ended December 31, 2017, East Nine Co., Ltd. reported total assets of KRW 2.6 billion, sales of KRW 13.5 billion, and net profit of KRW 363 million. The transaction was resolved by the Board of Metalabs Co., Ltd. on April 23, 2018. The transaction is expected to close on April 23, 2018.
Metalabs Co., Ltd. (KOSE:A090370) cancelled the acquisition of remaining 40% stake in East Nine Co., Ltd. on April 23, 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. 
