Avista Inc. cancelled the acquisition of 60% stake in East Nine Co., Ltd.
April 04, 2019
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Avista Inc. (KOSE:A090370) agreed to acquire 60% stake in East Nine Co., Ltd. for KRW 1.4 billion on April 5, 2018. The deal value is payable in cash. For the year ending December 31, 2017, East Nine Co., Ltd. reported total assets of KRW 2.6 billion, total capital of KRW 1 billion, sales amount of KRW 13.5 billion and net profit of KRW 363 million. The Board of Directors of Avista Inc. passed a resolution for the deal on April 5, 2018. The scheduled acquisition date is April 5, 2018.
Avista Inc. (KOSE:A090370) cancelled the acquisition of 60% stake in East Nine Co., Ltd. on April 5, 2019.
METALABS CO., LTD., formerly AVISTA INC., is a Korea-based company mainly engaged in the casual apparel business. The Company produces and sells casual apparel and accessories under the brand of BNX, which is feminine and romantic character for women in their twenties; TANKUS, which is casual apparel with detailed design and dynamic color and fabrics; eryn brinie, which is soft and simple character casual apparel, and Kai-aakmann, which is feminine and masculine look character for men and women in their twenties. In addition, it is engaged in the overseas wholesale and retail of products through its affiliates in Shanghai, New York and Milano.
METALABS CO., LTD. 
