Mgenplus Co.,Ltd. agreed to acquire 89% stake in Unicomnet Co.,Ltd. from Kyungsik Choi for KRW 16 billion.
August 24, 2021
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Mgenplus Co.,Ltd. (KOSDAQ:A032790) agreed to acquire 89% stake in Unicomnet Co.,Ltd. from Kyungsik Choi for KRW 16 billion on August 25, 2021. The specific amount of cash and convertible bonds to be paid by Kyungsik Choi is as follows: KRW 12 billion in cash and KRW 4 billion in Convertible Bonds. Payment form: cash payment and issuance commission of convertible bonds 2) Payment period (1) Down payment: KRW 4.8 billion (cash payment / due diligence deposit of KRW 1.5 billion paid on July 29, 2021 and KRW 3.3 billion on August 25, 2021) (2) Balance: 11.2 billion won in total- KRW 4 billion (offset with convertible bonds with a face value of KRW 4 billion issued by the Company/August 31, 2021)7.2 billion won (cash payment/August 31, 2021). Unicomnet Co.,Ltd. reported total assets of KRW 9.345 billion, total equity of KRW 6.091billion, sales of KRW 8.59 billion and net income of KRW 545 million for the year June 2021. The transaction is expected to complete on August 31, 2021. Daesung Samkyeong Accounting Corporation acted as accountant for Mgenplus Co.,Ltd.
Mgen Solutions Co Ltd, formerly BNGT Co Ltd, is a Korea-based company engaged in the manufacture and sale of printer cartridge parts. The Company operates its business through five segments. The Developing Machine Business segment is engaged in the manufacture and sale of printer cartridge parts. The Broadband Convergence Network (BcN)/Artificial Intelligence (AI) Business segment is engaged in the operation and build of broadband self-communication network. The Segment is also engaged in the provision of artificial intelligence image analysis solutions. The Communication Network Business segment is engaged in the provision of information technology services related to smart homes and the Internet of Things (IoT). The Bio Business segment is engaged in the development of organs for transplantation. The Other Business segment is engaged in the sale of medical devices.