Haesung Industrial Co. Ltd., Keyang Electric Machinery Co., Ltd. and employees of Micro Device Solution business cancelled the acquisition of Micro Device Solution business of Samsung Techwin Co. Ltd..
April 09, 2015 at 12:00 am EDT
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Haesung Industrial Co. Ltd. (KOSDAQ:A034810), Keyang Electric Machinery Co., Ltd. (KOSE:A012200) and employees of Micro Device Solution business agreed to acquire Micro Device Solution business of Samsung Techwin Co. Ltd. (KOSE:A012450) for KRW 150 billion on April 9, 2014. All of the business' assets and liabilities will be transferred to the buyers under the deal. Haesung Industrial Co. and Keyang Electric Machinery will acquire a combined 60% stake in Micro Device Solution business while the rest will be owned by the business' employees. The transaction has been resolved by Board of Directors of Samsung Techwin Co. Ltd. and is expected to be closed by April 30, 2014. Samsung Techwin Co. plans to spend the cash proceeds on strengthening the competitiveness of its equipment business. KPMG acted as financial advisor to Samsung Techwin.
Haesung Industrial Co. Ltd. (KOSDAQ:A034810), Keyang Electric Machinery Co., Ltd. (KOSE:A012200) and employees of Micro Device Solution business cancelled the acquisition of Micro Device Solution business of Samsung Techwin Co. Ltd. (KOSE:A012450) on April 9, 2015.
Haesung Industrial Co Ltd is a Korea-based holding company mainly engaged in the real estate rental management business. The Company operates its business through three segments. The Real Estate Rental and Management Business segment engages in the operation of office building rental business, facility management business for rental areas, and parking lot management business. The Facility Management Business segment is engaged in the operation and management of facilities such as office buildings, machinery and electrical equipment, and the entire rental business. The Real Estate Development segment engages in the construction of logistics warehouses, hotels, office buildings and others. The Company also operates holding business.
Haesung Industrial Co. Ltd., Keyang Electric Machinery Co., Ltd. and employees of Micro Device Solution business cancelled the acquisition of Micro Device Solution business of Samsung Techwin Co. Ltd..