Avista Inc. cancelled the acquisition of 79.08% stake in Mojelim Co., Ltd. from Jungwook Hwang and 24 other shareholders.
January 04, 2019
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Avista Inc. (KOSE:A090370) agreed to acquire 79.08% stake in Mojelim Co., Ltd. from Jungwook Hwang and 24 other shareholders for KRW 26.7 billion on January 5, 2018. As per the terms of the transaction, Avista Inc. will acquire 0.83 million shares. There is no deposit, and the balance payment will be made on January 9, 2018. The transaction will be financed from own funds, paid-in capital increase and convertible bond issuance etc. The transaction is expected to close on January 9, 2018. Samyoung Accounting Corporation acted as external rating institution in the transaction.
Avista Inc. (KOSE:A090370) cancelled the acquisition of 79.08% stake in Mojelim Co., Ltd. from Jungwook Hwang and 24 other shareholders on January 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. 
