Yulho Co., LTD. cancelled the acquisition of 64.4% stake in De Stellar Co., Ltd. from Cheonhwan Kim, Soonui Kim and Byeonggui Park.
September 25, 2020
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Yulho Co., LTD. (KOSDAQ:A072770) agreed to acquire 64.4% stake in De Stellar Co., Ltd. from Cheonhwan Kim, Soonui Kim and Byeonggui Park for KRW 7 billion on September 26, 2019. The consideration will be paid in cash. A down payment of KRW 1.5 billion was made on September 26, 2019, KRW 4.5 billion will be made on September 27, 2019 and the balance of KRW 982.42 million will be made on October 31, 2019. Cheonhwan Kim sold 1.09 million shares, representing 55.88% stake for KRW 6.06 billion, Soonui Kim sold 0.08 million shares, representing 4.32% stake for KRW 468.2 million and Byunggui Park sold 0.08 million shares, representing 4.17% stake for KRW 452.7 million. The transaction has been resolved by Board of Directors of Yulho Co., LTD. and is expected to close by October 31, 2019. As of September 27, 2019, it was announced that the payment of KRW 4.5 billion to be paid on September 27, 2019, will now be made on October 2, 2019.
Yulho Co., LTD. (KOSDAQ:A072770) cancelled the acquisition of 64.4% stake in De Stellar Co., Ltd. from Cheonhwan Kim, Soonui Kim and Byeonggui Park on September 26, 2020.
Yulho Co., LTD., formerly Neodian Technology Co., LTD., is a Korea-based company engaged in the distribution of software. Along with its subsidiaries, the Company operates its business through two segments. The Computer Peripherals Distribution segment engages in the build of storage solutions and the sale of software. The Company operates business in the sale, build and maintenance of EMC solution and Dell software. The Software Development segment provides wireless internet platform development and labor services. The Company's products include mobile middleware platforms, industrial automation systems and others.