Kim & Chang represented Hahn & Company in its acquisition of 100% of the shares of Lutronic, a global manufacturer of aesthetic medical devices.

During the course of this transaction, our firm undertook the following key responsibilities:
 

• Offered overarching legal counsel spanning the negotiation of transaction terms for the acquisition of the majority shares from the principal shareholder (i.e., approximately 20%), including conducting legal due diligence, facilitating the execution of agreements and overseeing the closing process.

• Provided comprehensive legal guidance on the procedural aspects of two separate tender offers and a thorough share swap aimed at acquiring the remaining 80% of shares from minority stakeholders.

• Delivered extensive legal counsel on intricate and varied procedures, notably, those associated with delisting procedures through the establishment of a wholly-owned subsidiary.
   

This deal involved a multitude of intricate issues, including extensive consultations and coordination with various governmental bodies such as the Korea Exchange, the Financial Supervisory Service, the Korea Securities Depository and the Korea Fair Trade Commission. Additionally, it required aligning interests with minority shareholders due to its nature, involving tender offers, conversion of a listed company into a wholly-owned subsidiary, and subsequent delisting. Our firm’s facilitation and advisory services played a pivotal role in effectively managing and addressing these multifaceted challenges.