Bae, Kim & Lee LLC (“BKL”) advised on all legal aspects of the sale of all of ownership interest of David C. Chung, the largest shareholder, in Englewood Lab, Inc. (the “Englewood Lab”) to Cosmecca Korea Co., Ltd. (“Cosmecca”), an innovator in the skin care ODM and OEM industry. Englewood Lab is an OEM and ODMUS cosmetics company and BKL had advised on its listing of Korean depository receipts (“KDRs”) representing its shares of common stock on the KOSDAQ market of the Korea Exchange in October 2016.
This is the first case in which a domestic Korean company became the largest shareholder of a foreign company listed on the KOSDAQ by acquiring shares from the largest shareholder who is a foreigner. Greenberg Traurig, LLP has also acted as a legal counsel for Englewood Lab advising on US laws relating to corporate, securities and tax areas.