COSON Co., Ltd. and S & D cancelled the acquisition of 27.4% stake in Outin Futures Co., Ltd from Choi Young-wook.
March 29, 2020
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COSON Co., Ltd. (KOSDAQ:A069110) and S & D agreed to acquire 27.4% stake in Outin Futures Co., Ltd (KOSDAQ:A227610) from Choi Young-wook for KRW 27.1 billion on February 13, 2020. As per the terms, consideration will be payable in cash and COSON Co., Ltd will acquire 2.2 million shares and S & D will acquire 0.5 million shares at KRW 9,900 per share. Down payment of KRW 2.7 billion will be paid on February 13, 2020 and balance of KRW 24.4 billion will be paid on March 30, 2020. Choi Young-wook will own 22.05% stake in Outin post closing. The transaction is expected to be completed on March 30, 2020.
COSON Co., Ltd. (KOSDAQ:A069110) and S & D cancelled the acquisition of 27.4% stake in Outin Futures Co., Ltd (KOSDAQ:A227610) from Choi Young-wook on March 30, 2020.
Outin Futures Co., Ltd is a Korea-based company principally engaged in the manufacturing and distribution of cosmetics. The Company provides fundamental cosmetics, mask packs, make-up and hair care products under the brand names of NEOGEN DERMALOGY, NEOGEN Code9, NEOGEN Agecure, Sur.Medic+, re:p, NEODAY, Lemonis, Ayuru, WYT and others. It distributes products through home shopping, drug stores, online shopping malls, duty free shops and others. The Company also provides original design manufacturing (ODM) and original equipment manufacturing (OEM) services. The Company distributes its products within domestic market and to overseas markets.