Microtech Co.,Ltd cancelled the acquisition of 80% stake in Vitro Corporation from Abpro Bio Co., Ltd. from Abpro Bio Co., Ltd..
October 22, 2020
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Microtech Co.,Ltd (KOSDAQ:A227950) agreed to acquire 80% stake in Vitro Corporation from Abpro Bio Co., Ltd. (KOSDAQ:A195990) from Abpro Bio Co., Ltd. (KOSDAQ:A195990) for KRW 6.8 billion on October 23, 2019. Out of total consideration, KRW 3.4 billion was paid on October 23, 2019, KRW 1 billion was paid on October 31, 2019 and KRW 2.4 billion will be paid on November 29, 2019. Vitro Corporation had total assets of KRW 2.1 billion, net assets of KRW 1.2 billion, revenues of KRW 10.2 billion and net income of KRW 520 million in 2018. Transaction was resolved by the Board of Microtech. Transaction is expected to close on November 29, 2019.
Microtech Co.,Ltd (KOSDAQ:A227950) cancelled the acquisition of 80% stake in Vitro Corporation from Abpro Bio Co., Ltd. (KOSDAQ:A195990) from Abpro Bio Co., Ltd. (KOSDAQ:A195990) on October 23, 2020.
N2tech Co Ltd, formerly Microtech Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of semiconductor equipment components. The Company operates its business through four segments. The Semiconductor Equipment Component segment produces and sells products such as vacuum valves, semiconductor equipment components, and system equipment, and provides after-sales services. The Light Emitting Diode(LED) Cheerleader and Merchandising(MD) Product segment manufactures products consisting of LED cheerleaders and MD products. The Entertainment segment is engaged in the production and sale of broadcast programs and entertainment management business. The Mask Manufacturing segment is engaged in the manufacture and sale of masks.