Hansol PNS Co.,Ltd. cancelled the acquisition of Hansolpaper Merchandising Co.,Ltd.
April 10, 2014 at 12:00 am EDT
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Hansol PNS Co.,Ltd. (KOSE:A010420) signed a merger agreement to acquire Hansolpaper Merchandising Co.,Ltd. for KRW 2.5 billion in stock on April 10, 2013. As per the terms, Hansol PNS will issue 8.1183447 shares for every one share of Hansolpaper Merchandising and a total of 1.54 million shares will be issued in the merger. Post transaction, Hansol PNS Co.,Ltd. will survive and Hansolpaper Merchandising will be dissolved. The record date for shareholders is on April 25, 2013. The general meeting of Hansolpaper shareholders will take place on May 13, 2013. The transaction is expected to be completed on July 1, 2013. As of May 13, 2013, the deal was approved by Board of Directors. PricewaterhouseCoopers acted as accountant to Hansol PNS.
Hansol PNS Co.,Ltd. (KOSE:A010420) cancelled the acquisition of Hansolpaper Merchandising Co.,Ltd. on April 10, 2014.
Hansol PNS Co., Ltd. is a Korea-based company mainly engaged in the distribution of paper products. The Company mainly operates in three business segments: paper products distribution segment, which distributes printing paper, paper board, newspaper paper products and other paper products; information technology (IT) service segment, which provides integrated system construction and maintenance services, and packaging segment, which manufactures cardboards used as packaging materials. On July 1, 2013, the Company merged with Hansolpaper Merchandising Co.,Ltd, a Korea-based company mainly engaged in the paper sales. After the merger, the Company survives and Hansolpaper Merchandising Co.,Ltd was dissolved.
HANSOL PNS CO.,LTD. 
