Hyundai HCN Kyongbuk Systems Co. completed the acquisition of 98.9% stake of HYUNDAI HCN POHANG SYSTEMS CO.,Ltd from Hyundai HCN Co., Ltd. and others.
June 02, 2014 at 12:00 am EDT
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Hyundai HCN Kyongbuk Systems Co. agreed to acquire HYUNDAI HCN POHANG SYSTEMS CO.,Ltd from Hyundai HCN Co., Ltd. (KOSE:A126560) on January 24, 2014. The exchange ratio is 1:319.3511989. Under the terms of transaction, 3.2 million new shares will be issued with merger. The transaction is expected to close by March 31, 2014.
Hyundai HCN Kyongbuk Systems Co. completed the acquisition of HYUNDAI HCN POHANG SYSTEMS CO.,Ltd from Hyundai HCN Co., Ltd. (KOSE:A126560) on June 2, 2014. Hyundai HCN Co., Ltd. sold 9,888 shares of HYUNDAI HCN POHANG SYSTEMS as a part of this transaction. HYUNDAI HCN POHANG reported total assets of KRW 17.95 billion, total liabilities of KRW 7.41 billion, stockholders' equity of KRW 10.54 billion and capital of 14.85 billion for the year ended December 31, 2013.
Hyundai Futurenet Co Ltd is a Korea-based company principally engaged in the digital signage business. The Company operates its business through four segments. The Signage Business segment is engaged in the provision of video contents such as information, entertainment advertisement and others through display screens. The Messaging Business segment is engaged in the provision of message agency services sent by corporates used for reservation, order confirmation, and delivery to customers as well as advertising and other purposes. The Immersive Contents Business segment is engaged in the provision of media art exhibitions and operation of museums. The Cosmetic Materials Business segment is engaged in the manufacture and sale of raw materials for cosmetics, health functional food and other products.
HYUNDAI FUTURENET CO., LTD. 
