A consortium including Solid, Inc. and OPTIS Co.,Ltd completed the acquisition of Pantech Co., Ltd. for KRW 48.6 billion.
October 07, 2015
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A consortium including Solid, Inc. (KOSDAQ:A050890), EMP Daiwa Capital Asia Limited, led by OPTIS Co.,Ltd signed a memorandum of understanding to acquire Pantech Co., Ltd. on June 16, 2015. The consortium already paid KRW 2 billion as a guarantee deposit, which cannot be refunded in the event of the collapse of the deal. Pantech Co., Ltd. recorded KRW 268.3 billion of assets and debt of KRW 996.2 billion in 2014. EMP Daiwa Capital Asia Limited exited the consortium of buyer and was replaced by Solid, Inc. The deal is expected to close on July 17, 2015. As on July 19, 2015, the transaction was approved by the Seoul court. As of October 8, 2015, the consortium made full payment for the takeover of Pantech. KPMG acted as financial advisor for Pantech.
A consortium including Solid, Inc. (KOSDAQ:A050890) and OPTIS Co.,Ltd completed the acquisition of Pantech Co., Ltd. for KRW 48.6 billion on October 8, 2015. Under the terms of the transaction, Solid, Inc. and OPTIS Co.,Ltd will pay KRW 38.6 billion and have paid KRW 8 billion in July, 2015. The consortium already paid KRW 2 billion as a guarantee deposit.
SOLiD, Inc. is a Korea-based company engaged in the manufacture of communication equipment such as wideband code division multiple access (WCDMA) repeaters and long term evolution (LTE) equipment. The Company mainly produces mobile communications equipment, including dual-band category 5 cable (CAT-5) distributed antenna systems (DASs), multi-band fiber-optic DASs, multi-use digital high frequency current (HFC) DASs, interference cancellation systems, digital channel selective repeaters, antenna embedded home repeaters and others. It also produces mobile televisions (TVs) equipment, including in-building fiber-optic DASs, radio frequency (RF) on-channel gap fillers and satellite link gap fillers, as well as wavelength division multiplexing passive optical network (WDM-PON) systems.