MBN Property and Human Holdings Co., Ltd entered into an agreement to acquire Ilshin Spinning Gwangju Factory 1 Real Estate from Ilshin Spinning Co., Ltd for approximately KRW 290 billion.
July 22, 2020
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MBN Property and Human Holdings Co., Ltd entered into an agreement to acquire Ilshin Spinning Gwangju Factory 1 Real Estate from Ilshin Spinning Co., Ltd (KOSE:A003200) for approximately KRW 320 billion on July 23, 2020. The consideration will be paid in tranches. As per the article on November 29, 2021, the transaction cost will be approximately KRW 290 billion and will be paid in cash.
The transaction is expected to close on June 30, 2021. As per the article on November 29, 2021, The transaction is expected to close on May 31, 2022. WooDuk Accounting Corporation acted as evaluator in the transaction.
ILSHIN SPINNING CO., LTD is a Korea-based company principally engaged in the manufacture of textiles. The Company operates in five business divisions. Its textile division provides three categories of textiles: yarns, including combed cotton yarns, core spun yarns and blended yarns; dyed yarns and dyed fabrics, including rayon-blended yarns, cotton yarns, cotton knitted fabrics, cotton-blended fabrics and others, as well as fabric products. Its cosmetics division distributes cosmetics under the brand name of THE BODY SHOP. Its investment division involves in the venture capital business. Its wine division imports overseas wines and distributes them to domestic market. Its property leasing division involves in the leasing of commercial and industrial buildings.
MBN Property and Human Holdings Co., Ltd entered into an agreement to acquire Ilshin Spinning Gwangju Factory 1 Real Estate from Ilshin Spinning Co., Ltd for approximately KRW 290 billion.
ILSHIN SPINNING CO., LTD 
