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Sangsangin's bid for Golden Bridge Investment & Securities shares expires

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Sangsangin's bid for Golden Bridge Investment & Securities shares expires

South Korea-based Sangsangin Co. Ltd. said in a regulatory filing on Jan. 2 that its agreement with Golden Bridge Co. Ltd. to acquire a stake in Golden Bridge Investment & Securities Co.Ltd. has been invalidated by the expiry of an acquisition deadline.

Sangsangin, formerly Texcell-NetCom Co. Ltd., signed an agreement in February 2018 to acquire 41.48% of Golden Bridge Investment & Securities from Golden Bridge on the condition that it obtain regulatory approval by Dec. 31, 2018. The deadline passed without regulatory approval.

Sangsangin said that it remains in talks with Golden Bridge to reinstate the deal.