Smac Co. Ltd. completed the acquisition of 30.44% stake in Barun Electronics Co., Ltd. from Enplus Co., Ltd..
September 31, 2021
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Smac Co. Ltd. (KOSDAQ:A097780) signed a contract to acquire 30.44% stake in Barun Electronics Co., Ltd. (KOSDAQ:A064520) from Enplus Co., Ltd. (KOSE:A074610) for KRW 12 billion on August 18, 2021. As reported, Smac Co. Ltd. will acquire 22.4 million shares in Barun Electronics Co., Ltd. at a price of KRW 535 per share. Under the terms of contract, a down payment of KRW 1.2 billion constituting 10% of the purchase consideration has been made and 2.24 million shares transferred on August 18, 2021. An interim payment of KRW 4.8 billion, representing 40% of purchase consideration is scheduled to be paid on August 27, 2021 with 8.97 million shares transferred and the balance consideration of KRW 6 billion, representing 50% of purchase consideration is scheduled to be paid on September 16, 2021 with remaining 11.2 million shares transferred. The scheduled date of change is September 16, 2021.
Smac Co. Ltd. (KOSDAQ:A097780) completed the acquisition of 30.44% stake in Barun Electronics Co., Ltd. (KOSDAQ:A064520) from Enplus Co., Ltd. (KOSE:A074610) on September 1, 2021.
TechL Co Ltd, formerly Barun Electronics Co Ltd, is a Korea-based company engaged in the manufacture and sale of memory semiconductor back-end processes. The Company operates its business through two segments. The System in a Package (SIP) Business segment is engaged in the manufacture and sale of memory cards, solid state drives(SSDs), embedded multi media cards(eMMCs) and smart cards. The Huawei Distributor Business segment is engaged in the manufacture and sale of products such as storage, network equipment and video conferencing equipment.