[DISCLOSURE] Cosmecca Korea (241710) announced on April 24 that it has decided to acquire 34.71 percent stake (6,896,831 shares) in US cosmetics manufacturer Englewood Lab (950140) at 57.76 billion won (US$53.69 million) “to enter US ODM market.” 

This amounts to 50.90 percent of its equity capital and the due date for acquisition is June 8.

By Hwang You-mee (glamazon@heraldcorp.com)