Jaegu Kang, Heungsun Lee and Dongmin Lee acquired J-One Co., Ltd. from SHINSEGAE FOOD Inc. for approximately KRW 120 million.
May 23, 2019
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Jaegu Kang, Heungsun Lee and Dongmin Lee acquired J-One Co., Ltd. from SHINSEGAE FOOD Inc. (KOSE:A031440) for approximately KRW 120 million on May 20, 2019. Jaegu Kang acquired 40% stake for KRW 44 million. Heungsun Lee acquired 30% stake for KRW 33 million and Dongmin Lee acquired 30% stake for KRW 33 million the amount totaling to KRW 110 million for entire 100% stake.
Jaegu Kang, Heungsun Lee and Dongmin Lee completed the acquisition of J-One Co., Ltd. from SHINSEGAE FOOD Inc. (KOSE:A031440) on May 20, 2019. As on May 20, 2019, the disclosure document for revision of consideration was submitted and as on May 24, 2019, the amendment report was published. As per the amendment Jaegu Kang acquired 40% stake for KRW 48.6 million. Heungsun Lee acquired 30% stake for KRW 36.4 million and Dongmin Lee acquired 30% stake for KRW 36.4 million totaling to KRW 121.49 million.
Shinsegae Food Co Ltd is a Korea-based company mainly engaged in the distribution of food and ingredients. The Company operates its business through three segments. The Manufacturing Service segment engages in group catering business, restaurant business, bakery business, and food manufacturing business. The group catering business provides meals to dormitories, school hospitals and enterprises. The restaurant business provides food and beverages. The bakery business provides bakery products to customers at shopping facilities such as department stores and E-Mart. The food manufacturing business produces and sells products such as Korean food, Western food, ethnic food, and snacks. The Purchase and Distribution segment distributes ingredients and products that the company manufactures and processes. The Other segment engages in food logistics business. In addition, the Company manufactures and sells frozen dumplings, mineral water, meat, sauces, fruit drinks, and food.
SHINSEGAE FOOD INC. 
