Yuyang D&U Co.,Ltd. completed the acquisition of a 14.4% stake in G-treeBNT Co., Ltd. from G-tree Fund 1.
April 09, 2017
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Yuyang D&U Co.,Ltd. (KOSE:A011690) agreed to acquire a 14.4% stake in G-treeBNT Co., Ltd. (KOSDAQ:A115450) from G-tree Fund 1 for KRW 53.5 billion on December 23, 2016. Under the terms of the transaction, Yuyang D&U Co.,Ltd. will buy 3.2 million shares of G-treeBNT Co., Ltd. Post-closing, Yuyang D&U Co.,Ltd. will hold 14.4% stake in G-treeBNT Co., Ltd. Yuyang D&U Co.,Ltd. will deposit KRW 10 billion on the date of the contract and remaining sum will be paid in cash at closing. Yuyang D&U Co.,Ltd. will fund the purchase through own funds and borrowings. Yuyang D&U Co.,Ltd. resolved the transaction on December 23, 2016. The transaction is expected to complete on March 28, 2017. As of March 28, 2017, the expected closing date has been changed from March 28, 2017 to April 11, 2017. Songkang Accounting Corporation acted as an external rating institution in the transaction.
Yuyang D&U Co.,Ltd. (KOSE:A011690) completed the acquisition of 14.4% stake in G-treeBNT Co., Ltd. (KOSDAQ:A115450) from G-tree Fund 1 on April 10, 2017.
HLB Therapeutics Co Ltd, formerly G-treeBNT Co Ltd, is a Korea-based company engaged in the research and development of optimized multimedia software for various digital appliances including cellular phones. Along with its affiliates, the Company operates solution business segment, which provides embedded graphic user interface (GUI) software solutions as well as wired and wireless integration multimedia platform solutions. Its embedded GUI products include FXUI-two-dimensional (2D), FXUI-three-dimensional (3D) and FX Studio, which are used for cellular phones and embedded equipment. Its wired and wireless integration multimedia platform products include FX-Flash and others, which are used for cellular phones and other mobile devices; electronic components manufacturing business segment, which provides transformers, pumps, motors and others, as well as educational and bio pharmaceutical business segments.