IL Science Co., Ltd. agree to acquire 51% stake in AHEZ Co., Ltd. for KRW 1.5 billion
July 20, 2020
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IL Science Co., Ltd. (KOSDAQ:A307180) agree to acquire 51% stake in AHEZ Co., Ltd. (Korea) for KRW 1.5 billion on July 21, 2020. Consideration was paid in cash. IL Science Co., Ltd. entered into separate contract with seller to pay certain amount of adjustment to acquisition when the AHEZ avheive operating profit in future. The total amount does not exceed KRW 610 million approximately. For year ended December 31, 2019, AHEZ co had total assets of KRW 2.4 billion, net worth of KRW 1.6 billion, sales of KRW 13.8 billion and net income of approximately KRW 830 million. The board passed resolution on July 21, 21020
IL Science Co,.Ltd., formerly Shinyoung HappyTomorrow No.4 Special Purpose Acquisition Company, is a Korea-based company mainly engaged in the manufacturing and distribution of lighting products. The Company manufactures and sells exterior lighting products, including pole lights, security lights, photovoltaic security lights, colonnade lights, bollards, head streets, wall lights, tunnel lights, flood lights; interior lighting products such as down lights, rail lights, parking lights, fluorescent lights, and others. The Company also produces and sells internet of things (IoT) smart products involving smart coordinators, smart routers, smart human detectors, smart motion sensors; as well as silicone lenses.
IL SCIENCE CO., LTD. 
