TONYMOLY Co.,Ltd. agreed to acquire 47.6% stake in Tai Guk Pharm Co.,Ltd. from Changgoo Lee and Jungu Lee for KRW 14 billion.
August 31, 2017
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TONYMOLY Co.,Ltd. (KOSE:A214420) signed a contract to acquire 47.6% stake in Tai Guk Pharm Co.,Ltd. from Changgoo Lee and Jungu Lee for KRW 14 billion on August 1, 2017. Under the transaction, TONYMOLY Co.,Ltd. will acquire 5.8 million shares in cash. 10% of the consideration is payable on contract signing date and the balance on September 30, 2017. The consideration will be financed by TONYMOLY Co.,Ltd. by its own funds. During the financial year ended December 31, 2016, Tai Guk Pharm Co.,Ltd. reported total assets of KRW 97.57 billion, revenue of KRW 60 billion and net loss of KRW 788.3 million. The transaction has been resolved by Board of Director of TONYMOLY Co.,Ltd. on August 1, 2017. The transaction is expected to be completed on September 30, 2017. Ernst & Young, Korea acted as external rating institution.
TONYMOLY CO., LTD is a Korea-based company principally engaged in development, manufacture and distribution of cosmetic products. The Company mainly manufactures skin care products, makeup products and cosmetic related accessories including brushes, containers, mirrors and others. The Company mainly sells products under brand name of TONYMOLY. And the Company distributes its cosmetic products through specialty stores, department stores, online shopping malls and others, as well as to overseas markets.
TONYMOLY CO., LTD 
