Samhwa Crown & Closure Co., Ltd agreed to acquire Shinwoo Co., Ltd from J. Double U. Hidden Champion Co., Ltd. for KRW 73.8 billion.
October 30, 2019
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Samhwa Crown & Closure Co., Ltd (KOSE:A004450) agreed to acquire Shinwoo Co., Ltd from J. Double U. Hidden Champion Co., Ltd. for KRW 73.8 billion on October 31, 2019. As per terms, 0.1 million shares will be acquired in cash. KRW 7.4 billion will be paid as down payment and balance on November 8, 2019. The consideration will be financed from self-financing and borrowings. For the year ended December 31, 2019, Shinwoo Co., Ltd reported total assets of KRW 31.9 billion, revenues of KRW 20.3 billion, net income of KRW 1.8 billion and net assets of KRW 25.6 billion. The balance payment date may change later. The Board of Directors resolved the deal on October 31, 2019.
Samhwa Crown & Closure Co., Ltd is a Korea-based company mainly engaged in the manufacture of bottle caps. The Companyâs products include crown caps, roll on pilfer proof (ROPP) caps, plastic caps and white caps, which are used for soft drinks, alcohol, bottled water, nutritional tonics and others. It also engages in the metal printing business. The Company distributes its products within domestic market and to overseas markets.
SAMHWA CROWN & CLOSURE CO., LTD 
