SG Corporation completed the acquisition of Yujin Apparel Co., Ltd.
July 25, 2017
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SG Corporation (KOSE:A004060) agreed to acquire Yujin Apparel Co., Ltd. for KRW 15.3 billion on June 14, 2017. As per terms, 0.24 million shares representing 100% stake will be acquired for cash. Out of consideration, 10% of the consideration is payable as deposit on the contract date and the balance will be paid on June 30, 2017, if all the preconditions for completion of the contract between the companies are met according to the contract. For the year ended September 30, 2016, Yujin Apparel Co., Ltd. reported total assets of KRW 36.7 billion, total revenues of KRW 42.7 billion and net profit of KRW 339.9 million. The Board of Directors of SG Corporation resolved the deal on June 14, 2017.
SG Corporation (KOSE:A004060) completed the acquisition of Yujin Apparel Co., Ltd. on July 26, 2017.
SG CORPORATION is a Korea-based company mainly engaged in the manufacture and distribution of menâs and womenâs apparels. The Company operates its business through three divisions: apparel export division, which exports men's and women's suits, casuals, leather garments, jackets, pants and shirts to clients including Gap, Target, Macy's, JCPenney, JOS.A.BANK, old navy, forever 21 and others; fashion division, which provides men's suits and women's clothes under the brand name of BASSO, BASSO homme, ab.f.z and ab.plus, and other business segment engages in the rental business. The Company distributes its products through department stores, sales agencies and discount stores.
SG CORPORATION 