Oricom Inc. completed the acquisition of Han Comm, Inc. from Hanwha S&C Co., Ltd. and Seo Young-Min KRW 23.3 billion.
August 17, 2015
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Oricom Inc. (KOSDAQ:A010470) agreed to acquire Han Comm, Inc. from Hanwha S&C Co., Ltd. and Seo Young-Min for KRW 24 billion on July 14, 2015. Under the terms of transaction, Oricom will acquire 0.11 million share of Han Comm. Hanwha S&C Co., Ltd will sell 0.08 million shares representing 69.87% stake in Han Comm, Inc. and Seo Young-Min will sell 0.03 million shares representing 30.13% stake. For the year 2014, Han Comm reported total assets of KRW 54.85 billion, total liabilities of KRW 42.53 billion and total shareholders' equity of KRW 12.32 billion. The transaction was resolved by the Board of Directors of Oricom Inc. on July 14, 2015. The deal is expected to close on August 13, 2015. As on August 12, 2015, it was announced that the transaction is expected to complete on August 18, 2015. KPMG Samjong acted as valuer in the deal.
Oricom Inc. (KOSDAQ:A010470) completed the acquisition of Han Comm, Inc. from Hanwha S&C Co., Ltd. and Seo Young-Min for KRW 23.3 billion on August 18, 2015. Oricom Inc. acquired 0.11 million shares at the price of KRW 0.2 million per share.
ORICOM INC. is a Korea-based company mainly engaged in the advertising business. The Company operates its business in two segments: advertisement segment and magazine segment. Its advertisement segment is mainly engaged in the provision of integrated advertising services such as advertisement creations, advertising agents, promotion services, below the line (BTL) services and others, including brand consulting services, media services, account services, Internet marketing communication services and others. Its magazine segment is mainly engaged in the publishing of magazines, such as Vogue, GQ, Vogue-girl, Allure, W and others. The Company distributes its products within domestic market and to overseas markets.
ORICOM INC. 