BTHMB HOLDINGS Pte. Ltd. agreed to acquire 23.24% stake in Combit Holdings Co., Ltd. from Vidente Co., Ltd. for approximately KRW 120 billion.
November 21, 2019
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BTHMB HOLDINGS Pte. Ltd. agreed to acquire 23.24% stake in Combit Holdings Co., Ltd. from Vidente Co., Ltd. (KOSDAQ:A121800) for approximately KRW 120 billion on October 31, 2019. Out of total consideration, KRW 50 billion was paid on October 31, 2019 and the balance amount will be paid on November 22, 2019. BTHMB HOLDINGS will acquire 2,324 shares in Combit Holdings. Post completion, Vidente will hold 3,424 shares representing 34.24% stake in Combit Holdings. Combit Holdings had total assets of KRW 682.4 billion, net assets of KRW 364.7 billion, revenue of KRW 392 billion and net loss of KRW 121.4 billion in 2018. Transaction was resolved by the Board of Vidente. Transaction is expected to close on November 22, 2019.
Vidente Co., Ltd., formerly Seven Star Works Co., Ltd., is a Korea-based company mainly engaged in the manufacturing and marketing of high definition (HD) video equipment for digital broadcast. The Companyâs products portfolio consists of viewfinder monitors, color critical liquid crystal display (LCD) monitors, multi-format monitors, quad-screen monitors, digital visual interface (DVI) and high definition multimedia interface (HDMI) monitors, rack monitors, organic light emitting diode (OLED) monitors, three dimensional (3D) monitors, wall monitors and others. The Company distributes its products within domestic market and to overseas markets, including Germany, Russia, India, Egypt and others. In addition, it engages in the real estate rental business.