Nomad Ivy Co., Ltd., Starlight, SLH Co., Ltd., DMH Co., Ltd., Marigold Funding Designated Activity Company and IM Holdings Co., Ltd. agreed to acquire 39.6% stake in Semisysco Co., Ltd from Lee, Sunjong and 5 others for KRW 31.4 billion.
May 30, 2021
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Nomad Ivy Co., Ltd., Starlight, SLH Co., Ltd., DMH Co., Ltd., Marigold Funding Designated Activity Company and IM Holdings Co., Ltd. agreed to acquire 39.6% stake in Semisysco Co., Ltd (KOSDAQ:A136510) from Lee, Sunjong and 5 others for KRW 31.4 billion on May 30, 2021. As per the terms of the transaction, a down payment of KRW 3.1 billion is paid on May 30, 2021, interim payment of KRW 16.5 billion equivalent to 52.82% shall be paid on July 1, 2021 and the remaining KRW 11.7 billion equivalent to 37.18% shall be paid on July 9, 2021. Nomad Ivy Co., Ltd and others will acquire 2.1 million shares at price of KRW 14,750 per share and from the total shares to be acquired, DMH Co., Ltd. shall acquire 1.1 million shares in Semisysco Co., Ltd and will hold 16.67% stake. Also post transaction, HLB Life Science Co., Ltd. will become the largest shareholder replacing Sunjong Lee. The transaction is expected to close on June 30, 2021. As per correction on June 30, 2021, the transaction is expected to close on July 1, 2021.
Smart Solutions Co Ltd, formerly EdisonEV Co Ltd, is a Korea-based company mainly engaged in the electric vehicle business. The Company operates through two segments. The Electric Vehicle segment is engaged in the manufacture and sale of electric vehicles. The Semiconductor and Display segment mainly manufactures display inspection equipment such as smart-end point detections (EPD) and smart-health monitoring systems (HMS) for plasma inspection and eagle eye systems (EGIS) for glass substrate inspection.
Nomad Ivy Co., Ltd., Starlight, SLH Co., Ltd., DMH Co., Ltd., Marigold Funding Designated Activity Company and IM Holdings Co., Ltd. agreed to acquire 39.6% stake in Semisysco Co., Ltd from Lee, Sunjong and 5 others for KRW 31.4 billion.