Aster-Orbit New Technology Business Investment Fund, Lion No.1 Fund, and Lion Chemtech Consortium agreed to acquire 67.78% stake in Lion Chemtech Co., Ltd. from the group of shareholders.
December 15, 2022
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Aster-Orbit New Technology Business Investment Fund, Lion No.1 Fund, and Lion Chemtech Consortium agreed to acquire 67.78% stake in Lion Chemtech Co., Ltd. (KOSDAQ:A171120) from the group of shareholders for approximately KRW 180 billion on September 8, 2022. The offer per share is KRW 1400. The acquisition is expected to close on October 25, 2022. As of November 30, 2022, the transaction is expected to close on December 16, 2022.
Aster-Orbit New Technology Business Investment Fund, Lion No.1 Fund, and Lion Chemtech Consortium cancelled the acquisition of 67.78% stake in Lion Chemtech Co., Ltd. (KOSDAQ:A171120) from the group of shareholders on December 16, 2022 . Termination of the contract due to non-payment of the down payment and interim payment of the stock and management right transfer contract.
Lion Chemtech Co., LTD. is a Korea-based company mainly engaged in the manufacture of artificial marbles and synthetic waxes. The Company's product portfolio consists of artificial marbles, which are under the brand of TRISTONE, and synthetic waxes, such as poly ethylene (PE) waxes, propene polymer (PP) waxes, functional waxes, ethylene bis stearamide (EBS) waxes, amide waxes and others, which are under the brand of L-C WAX.
Aster-Orbit New Technology Business Investment Fund, Lion No.1 Fund, and Lion Chemtech Consortium agreed to acquire 67.78% stake in Lion Chemtech Co., Ltd. from the group of shareholders.