UGint Co.Ltd. cancelled the acquisition of Kang Won Mutual Savings & Finance Co., Ltd. from Chanwoo Choi and Moonki Kim .
December 22, 2016 at 11:00 pm EST
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UGint Co.Ltd. (KOSDAQ:A195990) agreed to acquire Kang Won Mutual Savings & Finance Co., Ltd. from Chanwoo Choi and Moonki Kim for KRW 13 billion on October 21, 2016. UGint Co.Ltd will acquire 1.4 million shares of Kang Won Mutual as part of the transaction. As at December 31, 2015, Kang Won Mutual Savings & Finance reported total assets of KRW 27.2 billion. The transaction has been resolved by the Board of Directors of UGint Co.Ltd on October 21, 2016. The transaction is expected to complete on December 23, 2016.
UGint Co.Ltd. (KOSDAQ:A195990) cancelled the acquisition of Kang Won Mutual Savings & Finance Co., Ltd. from Chanwoo Choi and Moonki Kim on December 23, 2016. The transaction was cancelled due to issues faced during asset, liabilities, and due diligence of Kang Won Mutual Savings & Finance Co. after the contract signing date.
Abpro Bio Co., Ltd., formerly Ugint Co., Ltd., is a Korea-based company engaged in machine tools manufacturing. The Company produces and distributes small sized machining centers for notebooks, smart phones, tablet personal computers, mobile phones, base plates, light emitting diode (LED) and light crystal display (LCD) television panels, automobile parts, motorbikes parts and aircraft parts. The Company also engages in original equipment manufacturing business (OEM). The Company operates its business within domestic markets and foreign markets such as China and Europe countries.
ABPRO BIO CO., LTD. 
