FIS Co. Ltd. cancelled the acquisition of LTC AM Co., Ltd. from LTC Co.,Ltd and others.
December 12, 2018
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FIS Co. Ltd. agreed to acquire LTC AM Co., Ltd. from LTC Co.,Ltd (KOSDAQ:A170920) and others on December 13, 2017. Under the terms of the transaction, FIS Co. Ltd. will issue 0.05 million shares and the exchange ratio is 1:0.0056798 for the transaction. Post-acquisition, FIS Co. Ltd. will be the surviving entity and LTC AM Co., Ltd. will be the dissolved entity. For the year ended December 31, 2016, LTC AM Co., Ltd. reported total assets of KRW 17.94 billion. General meeting of shareholders is planned on January 25, 2018. Board of Directors resolved the transaction on December 13, 2017. The transaction is expected to complete in February 2018.
FIS Co. Ltd. cancelled the acquisition of LTC AM Co., Ltd. from LTC Co.,Ltd (KOSDAQ:A170920) and others on December 13, 2018.
LTC Co.,Ltd is a Korea-based company engaged in the manufacture, processing and marketing of chemical products. The Company principally engages in the manufacture and marketing of stripper, which is used for liquid crystal display (LCD) and semiconductor industries. The Company also provides raw materials for stripper production. The Company distributes its products within domestic market and to overseas markets.