FN REPUBLIC Co., Ltd. completed the acquisition of an additional 11.97% stake in Jayjun Cosmetic Co., Ltd. from Jayjun Global Co.,Ltd
October 25, 2017
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FN REPUBLIC Co., Ltd. (KOSDAQ:A064090) agreed to acquire an additional 11.97% stake in Jayjun Cosmetic Co., Ltd. (KOSE:A025620) from Jayjun Global Co.,Ltd for KRW 60 billion on August 31, 2017. The offer per share is KRW 7500. FN REPUBLIC Co., Ltd. will acquire 8 million shares of Jayjun Cosmetic Co., Ltd. in cash. FN REPUBLIC Co., Ltd. will pay a deposit of KRW 6 billion and second payment of KRW 24 billion on August 31, 2017 and 4 million shares will be transferred upon payment of deposit and second payment acceptance. FN REPUBLIC Co., Ltd. will pay the balance of KRW 30 billion on October 26, 2017. 4 million shares will be transferred upon payment of the balance amount. As on AUgust 31, 2017, FN REPUBLIC Co., Ltd. completed the acquisition of 4 million shares in Jayjun Cosmetic Co., Ltd. After the transaction, FN REPUBLIC Co., Ltd. will hold 8.26 million shares amounting to 12.36% stake in Jayjun Cosmetic Co., Ltd. FN REPUBLIC Co., Ltd. will fund the transaction through retained funds. The Board of Directors passed a resolution for the transaction on August 31, 2017. Samil PricewaterhouseCoopersacted as the external rating institution.
FN REPUBLIC Co., Ltd. (KOSDAQ:A064090) completed the acquisition of an additional 11.97% stake in Jayjun Cosmetic Co., Ltd. (KOSE:A025620) from Jayjun Global Co.,Ltd on October 26, 2017.
Westrise Co Ltd, formerly FN Republic Co Ltd, is a Korea-based company mainly engaged in general product wholesale business. As a fashion and beauty brand distribution and marketing platform company, the Company is engaged in overseas clothing distribution and marketing business focusing on fashion clothing and miscellaneous goods. The Company is engaged in the wholesale and retail of cosmetics. The company mainly operates its business in China.