Suppro Co., Ltd. cancelled the acquisition of remaining 40% stake in GM Suppro Co., Ltd.
December 22, 2014 at 11:00 pm EST
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Suppro Co., Ltd. agreed to acquire remaining 40% stake in GM Suppro Co., Ltd. for KRW 130 million in cash on December 23, 2013. Suppro Co., Ltd. will acquire 26,000 shares at the price of KRW 5,000 per share. During the year ended December 2012, GM Suppro Co., Ltd. had total assets of KRW 253 million, total stockholders' equity of KRW 160 million, sales revenue of KRW 155 million, and net loss of KRW 15 million. Board of Directors of Suppro Co., Ltd. passed a resolution in favor of the transaction on December 23, 2013. The scheduled acquisition date is December 24, 2013.
Suppro Co., Ltd. cancelled the acquisition of remaining 40% stake in GM Suppro Co., Ltd. on December 23, 2014.
Suppro co., Ltd. is a Korea-based company mainly engaged in the sale of trees. The Company operates its business through four segments. The Tree Business segment is involved in the distribution of trees such as zelkova trees, pine trees, Yoshino cherry trees, and chionanthus retusus. The Natural Environment Restoration segment is engaged in the urban greening business, as well as ecological restoration business. The Overseas Greening segment is engaged in overseas desertification prevention business, ecological restoration and afforestation business. The Urban Agriculture Business segment is involved in the urban agriculture business through the operation of rooftop gardens, school farms, veranda gardens, and weekend farms.
SUPPRO CO., LTD. 
