Panstar Enterprise Co.,Ltd. agreed to acquire Panstar Tree Co. Ltd,. for KRW 3.9 billion.
September 04, 2019
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Panstar Enterprise Co.,Ltd. (KOSDAQ:A054300) agreed to acquire Panstar Tree Co., Ltd. for KRW 3.9 billion on September 5, 2019. Panstar Enterprise Co.,Ltd. will issue 3.8 million shares as consideration at the ratio of 1:190. For the year ended December 2018, Panstar Tree Co., Ltd. reported total assets of KRW 5.4 billion, total capital of KRW 1.3 billion and sales of KRW 3.9 billion. On October 7, 2019, the Board and shareholders of Panstar Enterprise Co.,Ltd. approved the transaction. The transaction is expected to close on November 9, 2019. G-Pyung Accounting Corporation acted as external evaluation body in the transaction.
Panstar Enterprise Co., Ltd., formerly HESHBON.Co. Ltd. is a Korea-based company engaged in the manufacturing of automobile maintenance equipment. The Company's products consist of automotive lifts, including wheel alignment lifts, motorcycle lifts, scissor lifts and others; wheel equipment, including wheel aligners, wheel balancers and tire changers, as well as automatic transmission fluid (ATF) changers, exhaust gas detectors, smoke detectors, engine tune-up machines and auto consumables among others. The Company supplies its products within domestic market and to overseas markets, including France, North and South America, Australia, the Middle East and Japan.
PANSTAR ENTERPRISE CO.,LTD. 
