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Harim Group Headquarters in Gangnam District, Seoul (Photo = Harim Group) |
[Alpha Biz= Kim Jisun] Seoul, September 10 – Harim Holdings, the holding company of Harim Group, announced that it will acquire the entire stake in Harim USA currently owned by its affiliate Farmsco.
According to Harim Group and the Financial Supervisory Service, Farmsco’s board of directors resolved on September 9 to sell 951,447 shares of Harim USA to Harim Holdings under a share purchase agreement. The shares represent 19.2% of Farmsco’s equity capital (₩162.6 billion).
The transaction value amounts to approximately ₩31.26 billion, based on an external appraisal of USD 23.63 per share and converted at the Bank of Korea’s reference exchange rate of KRW 1,390.40 per dollar as of the disclosure date. The off-market transfer is scheduled to be completed on November 7.
Farmsco, a core livestock feed subsidiary within Harim Group, will fully divest its stake in Harim USA through this transaction. Meanwhile, Harim Holdings’ ownership in Harim USA will increase to 68.63%.
Harim USA serves as the Group’s overseas hub in the United States, overseeing global investments and local business operations. As of last year, the entity reported net income of ₩1.2 billion and total equity of ₩371.8 billion.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
