Orient Precision Industries Inc. cancelled the acquisition of an additional 27.6% stake in Orient Electronics Co.,Ltd from ORIENT BIO Inc..
March 27, 2018
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Orient Precision Industries Inc. (KOSDAQ:A065500) agreed to acquire an additional 27.6% stake in Orient Electronics Co.,Ltd from ORIENT BIO Inc. (KOSE:A002630) for KRW 5 billion on March 28, 2017. Orient Precision Industries Inc. will acquire 2.29 million shares of Orient Electronics Co.,Ltd and will pay consideration in cash. After the transaction, Orient Precision Industries Inc. will hold 7.7 million shares amounting to 92.06% stake in Orient Electronics Co.,Ltd. The transaction is resolved by the Board of Orient Precision Industries Inc. The transaction is expected to close on March 31, 2017.
Orient Precision Industries Inc. (KOSDAQ:A065500) cancelled the acquisition of an additional 27.6% stake in Orient Electronics Co.,Ltd from ORIENT BIO Inc. (KOSE:A002630) on March 28, 2018.
ORIENT BIO Inc. is a Korea-based company engaged in the biotechnology area. The Company produces and supplies laboratory animals, including mice, rats, guinea pigs, hamsters, specific pathogen free (SPF) rabbits, beagles and others. It also provides contract research organization (CRO) services, including CRO safety assessment and CRO new drug development services; medical and library equipment, such as barrier systems, and support services such as rodent surgery services, laboratory diagnostics services, transgenic services, genetic testing services and other services. In addition, along with its subsidiaries, the Company provides feeds, reagents, disinfectants, automobile components, power supply equipment, and other machines.
ORIENT BIO INC. 
