Weihai Textile Group Import & Export Co., Ltd. acquired a 49.82% stake in Avista Inc. for KRW 27 billion.
December 25, 2012 at 11:00 pm EST
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Weihai Textile Group Import & Export Co., Ltd. acquired a 49.82% stake in Avista Inc. (KOSE:A090370) for KRW 27 billion in November 2012. Weihai Textile bought 4.8 million shares of Avista. Bridge Capital acted as a financial advisor in the deal. Ung Jae Byun, Sung Jin Kim, Hobeom Ryu, May Hong, Jin Wook Le, Soo-Yeon Han and Ka Young Kim of Yulchon acted as legal advisors for Weihai Textile in the transaction.
Weihai Textile Group Import & Export Co., Ltd. completed the acquisition of a 49.82% stake in Avista Inc. (KOSE:A090370) in November 2012.
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. 
