Vitzrosys. Co., Ltd cancelled the acquisition of15.79% stake in Mindcryption Inc. for KRW 6 billion.
October 29, 2019
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Vitzrosys. Co., Ltd (KOSDAQ:A054220) agreed to acquire 15.79% stake in Mindcryption Inc. for KRW 6 billion on October 30, 2018. The payment will be made through issuance of Vitzrosys' 9th unregistered coupon private convertible bonds. A total of 0.24 million shares will be acquired as part of the deal. Mindcryption Inc. reported net assets of KRW 15.03 billion, total assets of KRW 20.12 billion, sales of KRW 400 million and net profit of KRW 39 million as of December 31, 2017. Board of Vitzrosys. Co., Ltd resolved in favor of the deal on the same date. Deal is expected to close by October 30, 2018.
Vitzrosys. Co., Ltd (KOSDAQ:A054220) cancelled the acquisition of15.79% stake in Mindcryption Inc. for KRW 6 billion on October 30, 2019.
Vitzrosys. Co., Ltd is a Korea-based company engaged in the manufacture of automatic control equipment. The Company operates in two segments: smart infrastructure and plant. Its smart infrastructure segment involves in the information technology (IT) convergence and integration business, advanced green city business, new and renewable energy business, system integration (SI) business, smart grid business and high value added services. Its plant segment involves in the overseas engineering, procurement, construction (EPC), as well as plant operation and maintenance services.