Dover Holdings Limited and Rivendell Investment signed a definitive agreement to acquire an 19.5% stake in Dong-Ah Geological Engineering Company Ltd. from Lee, Jung-Woo, Kim, Youngae, Lee, Sangkyung and Dongji Welfare Foundation for KRW 40.4 billion.
June 14, 2019
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Dover Holdings Limited and Rivendell Investment signed a definitive agreement to acquire an 19.5% stake in Dong-Ah Geological Engineering Company Ltd. (KOSE:A028100) from Lee, Jung-Woo, Kim, Youngae, Lee, Sangkyung and Dongji Welfare Foundation for KRW 40.4 billion on June 14, 2019. As per the transaction, Dover Holdings Limited and Rivendell Investment will acquire 2.24 million shares at KRW 18000 per share. Dover Holdings Limited and Rivendell Investment will acquire 1.76 million, 0.25 million, 0.1 million and 0.14 million shares from Lee, Jung-Woo, Kim, Youngae, Lee, Sangkyung and Dongji Welfare Foundation representing 15.26%, 2.15%, 0.91% and 1.19% stake of Dong-Ah Geological Engineering Company Ltd. Post completion, Lee, Jung-Woo, Kim, Youngae, Lee, Sangkyung and Dongji Welfare Foundation will hold 1.76 million, 0.22 million, 0.07 million and 0.2 million shares while Dover Holdings Limited and Rivendell Investment will hold 2.07 million and 0.18 million shares reprehensively. In related transaction, Dover Holdings Limited and Rivendell Investment signed an contract of convertible bond and Bond with Warrants with Dong-Ah Geological Engineering Company. The transaction was resolved by the boards of Dong-Ah Geological Engineering Company on June 14, 2019. The transaction is expected to close on August 16, 2019.
Dong-Ah Geological Engineering Company Ltd. is a Korea-based company engaged in the civil engineering business. The Company operates its business through four main divisions: mechanical tunnels division, which uses shield and semi-shield methods to construction tunnels; ground improvement division, which uses deep cement-soil mixing (DCM) method in ground construction works; general civil engineering division, which engages in the construction of roads, subways, bored piles and diaphragm walls, and engineering division, which provides design, research, measurement and other services. The Company is also engaged in the environment business, which engages in the construction of water treatment systems, wastewater reclamation and reusing systems and others.
Dover Holdings Limited and Rivendell Investment signed a definitive agreement to acquire an 19.5% stake in Dong-Ah Geological Engineering Company Ltd. from Lee, Jung-Woo, Kim, Youngae, Lee, Sangkyung and Dongji Welfare Foundation for KRW 40.4 billion.
DONG-AH GEOLOGICAL ENGINEERING COMPANY LTD. 
