L&S ICT Value 1 PEF, a fund of L&S Venture Capital Corp. cancelled the acquisition of 46.82% stake in Woori-Net Inc. from Hyun-Gook Jang and four other sellers.
March 15, 2013 at 12:00 am EDT
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L&S ICT Value 1 PEF, a fund of L&S Venture Capital Corp. entered into a contract to acquire 46.82% stake in Woori-Net Inc. (KOSE:A115440) from Hyun-Gook Jang and four other sellers for KRW 15 billion on March 15, 2012. L&S Venture Capital Corp will acquire 2.88 million shares at the price of KRW 5,200 per share. L&S Venture Capital Corp will deposit KRW 1.5 billion within one day of contract and balance KRW 13.5 billion will be held in escrow on the date of general shareholders' meeting that is March 29, 2012. In case the acquisition/sales of management rights are completed normally, the escrow will be terminated and the total balance payment will be withdrawn on March 29, 2012. The transaction is expected to close on March 29, 2012.
L&S ICT Value 1 PEF, a fund of L&S Venture Capital Corp. cancelled the acquisition of 46.82% stake in Woori-Net Inc. (KOSE:A115440) from Hyun-Gook Jang and four other sellers on March 15, 2013.
WooriNet, Inc. is a Korea-based company engaged in the provision of communication equipment. The Companyâs products consist of multi-service provisioning platform (MSPP) systems, such as access multi-service platforms (AMSPs), backbone multi-service platforms (BMSPs), large-scaled MSPPs and others under the brand names of WMSP-240, BMSP-4016, AMSP-C1200, AMSP-M155, AMSP-R155, AMSP-S155, AEOP and others, and access gateway (AGW) systems, including small capacity AGWs and large capacity AGWs. The Companyâs products are used for access networks and backbone networks. The Company supplies its products in domestic market.
L&S ICT Value 1 PEF, a fund of L&S Venture Capital Corp. cancelled the acquisition of 46.82% stake in Woori-Net Inc. from Hyun-Gook Jang and four other sellers.
WOORINET, INC. 