BEXEL Co.,Ltd. completed the acquisition of in a reverse merger transaction from Samra Midas Group and others.
April 31, 2022
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BEXEL Co.,Ltd. entered into agreement to acquire JICO co., Ltd (KOSE:A010580) in a reverse merger transaction from Samra Midas Group and others on December 30, 2021. This merger proceeds in a way that the existing shareholder of BEXEL Co.,Ltd. will receive shares of JICO co., Ltd according to the merger ratio with respect to the shares they own as of the date of allocation of new merged stocks. Upon completion of this merger, the largest shareholder of the surviving company, JICO co., Ltd, is expected to hold 83.55% of the total number of issued shares, including Samramidas Co., Ltd., so there will be no substantial change in management rights. The deal is expected to close on April 1, 2022.
BEXEL Co.,Ltd. completed the acquisition of (KOSE:A010580) in a reverse merger transaction from Samra Midas Group and others on April 1, 2022.
SM Bexel Co Ltd, formerly Jico Co Ltd, is a Korea-based company engaged in the manufacture and sale of automobile parts. The Companyâs products consist of water pumps, oil pumps for internal combustion engines, front cases, cylinder heads, as well as automotive parts such as clutches and pistons for gearboxes. In addition, the Company is also engaged in the provision of shafts for automobile assemblies. The Company distributes its products within domestic market and to overseas markets.