Growth & Value Fund 3, Growth & Value Fund 4 and Growth & Value Development Co., Ltd. completed the acquisition of 48.49% stake in SHINWON Construction co.,Ltd. from WONIK Co., LTD. and Wonik QnC Corporation.
November 20, 2016 at 11:00 pm EST
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Growth & Value Fund 3, Growth & Value Fund 4 and Growth & Value Development Co., Ltd. signed contract to acquire 48.49% stake in SHINWON Construction co.,Ltd. (KOSDAQ:A017000) from WONIK Co., LTD. (KOSDAQ:A032940) and Wonik QnC Corporation (KOSDAQ:A074600) for KRW 39.1 billion on October 4, 2016. Under the terms of the transaction, Wonik QnC will sell 2.98 million shares. As per amendment terms on October 5, 2016, Growth & Value Fund 3 and 2 others agreed to acquire 4.88 million shares at KRW 8,000 per share. As consideration a deposit of KRW 7.8 billion payment has been made on October 4, 2016 and remaining balance after the payment of the deposit will be completed on November 21, 2016. As per the amendment on November 14, 2016, Estrozen Co., Ltd., A1 Fund 1, A1 Fund 2, A1 Fund 3, Juyeon Park and Heejung Kim agreed to acquire 48.49% stake in SHINWON Construction co.,Ltd. for KRW 39.1 billion. Under the terms of the agreement, 4.88 million shares were sold at KRW 8000 per share. Estrozen Co., Ltd will acquire 1.25 million shares, A1 Fund 1 will acquire 0.63 million shares, A1 Fund 2 will acquire 1.63 million shares , A1 Fund 3 will acquire 1.13 million shares, Heejung Kim will acquire 0.13 million shares and Juyeon Park will acquire 0.13 million shares. As on November 15, 2016, partial deal completed. The transaction is expected to be completed on November 21, 2016.
Growth & Value Fund 3, Growth & Value Fund 4 and Growth & Value Development Co., Ltd. completed the acquisition of 48.49% stake in SHINWON Construction co.,Ltd. (KOSDAQ:A017000) from WONIK Co., LTD. (KOSDAQ:A032940) and Wonik QnC Corporation (KOSDAQ:A074600) on November 21, 2016.
Wonik Corporation is a Korea-based company mainly engaged in the provision of medical equipment. The Company operates its business through three segments: medical and commercial segment, electronic components segment and rental business segment. Its medical and commercial segment mainly provides medical equipment such as endoscopes, lasers, ultrasonic equipment and others, as well as industrial materials, lighting equipment, electronic, electrical and communication equipment components and others. Its electronic components segment mainly manufactures electronic components such as hybrid integrated circuits (HICs), radio frequency (RF) filters, global position systems (GPSs) and others. Its rental business segment engages in the rental business.
Growth & Value Fund 3, Growth & Value Fund 4 and Growth & Value Development Co., Ltd. completed the acquisition of 48.49% stake in SHINWON Construction co.,Ltd. from WONIK Co., LTD. and Wonik QnC Corporation.