RIFA Co., Ltd. cancelled the acquisition of an additional 2.53% stake in Young Hwa Industrial Co. Ltd.
December 19, 2013 at 11:00 pm EST
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RIFA Co., Ltd. (KOSE:A000760) agreed to acquire an additional 2.53% stake in Young Hwa Industrial Co. Ltd. for KRW 2.4 billion on December 20, 2012. RIFA will acquire 11,454 shares of Young Hwa in the transaction. Post transaction, RIFA will have 0.2 million shares of Young Hwa. For the year ended December 31, 2011, Young Hwa Industrial reported sales of KRW 6.84 billion, net income of KRW 1.52 billion, total assets of KRW 102.24 billion and shareholder's equity of KRW 89.97 billion. The transaction was resolved by the Board of Directors of RIFA on December 20, 2012. The scheduled acquisition date is December 20, 2012.
RIFA Co., Ltd. (KOSE:A000760) cancelled the acquisition of an additional 2.53% stake in Young Hwa Industrial Co. Ltd. on December 20, 2013.
RIFA CO.,LTD. is a Korea-based company primarily engaged in the wholesale and retail of chemicals and dyestuffs. The Company imports and distributes organic and inorganic chemicals, which are used as industrial additives, food additives, solvents and others. In addition, it distributes dyestuffs including reactive dyestuffs, acid dyestuffs, direct dyestuffs and disperse dyestuffs to the domestic and overseas markets. It also engages in the real estate leasing business. As of the fiscal year ended March 31, 2012, the Company had 11 affiliated companies. On March 27, 2013, the Company acquired a 69.29% stake in RIFA MULSAN CO., LTD., engaged in the estate lent business.
RIFA CO.,LTD. 
