Goldman Sachs Investments Holdings Limited and Connect Improvement Limited agreed to acquire 19.99% stake in TBH Global Limited from The Basic House Co., Ltd., JKL Partners Inc. and KoFC KDBC-JKL Frontier Champ 2010-1 of KDB Capital Corporation, Investment Arm for KRW 90.7 billion.
September 19, 2014 at 12:00 am EDT
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Goldman Sachs Investments Holdings (Asia) Limited and Connect Improvement Limited agreed to acquire 19.99% stake in TBH Global Limited from The Basic House Co., Ltd. (KOSE:A084870), JKL Partners Inc. and KoFC KDBC-JKL Frontier Champ 2010-1 of KDB Capital Corporation, Investment Arm for KRW 90.7 billion on September 18, 2014. Under the terms of the transaction, The Basic House Co., Ltd. will sell 0.87 million shares for KRW 45.34 billion, 0.44 million shares for KRW 22.67 billion to Goldman Sachs Investments Holdings (Asia) Limited and Connect Improvement Limited, each. Goldman Sachs Investments and Connect Improvement Limited will acquire 0.87 million shares from KoFC KDBC JKL Frontier Champ 2010 1 Private Equity Fund and JKL Partners Inc. Pursuant to the transaction, The Basic House Co. will own 75.25% stake in TBH Global Limited.
The transaction has been resolved by the Board of The Basic House Co., Ltd and the sales contract has been signed on September 19, 2014. The acquisition date of stocks has been scheduled at October 7, 2014. Goldman Sachs acted as financial advisor for Goldman Sachs Investments Holdings. Hanul Accounting Corporation acted as the accountant to The Basic House Co., Ltd.
THE BASIC HOUSE. CO.,LTD is a Korea-based company principally engaged in the manufacture and of apparels. The Company has four principal brands: BASIC HOUSE, a casual brand; MIND BRIDGE, a business casual brand; VOLL, an adult casual brand for women; THE CLASS, a business casual brand for men. In addition, it involves in the sale of raw materials, royalty income, as well as leasing of real estates. It operates its brandsâ clothing stores and relevant discount stores. The Company distributes its products within domestic market and to overseas markets. On July 1, 2013, the Company merged with its wholly owned subsidiary, mainly engaged in the manufacturing and sales of clothing.
Goldman Sachs Investments Holdings Limited and Connect Improvement Limited agreed to acquire 19.99% stake in TBH Global Limited from The Basic House Co., Ltd., JKL Partners Inc. and KoFC KDBC-JKL Frontier Champ 2010-1 of KDB Capital Corporation, Investment Arm for KRW 90.7 billion.
TBH GLOBAL CO., LTD 
