LS Cable & System Ltd. singed a contract to acquire additional 6.03% stake in GAON CABLE Co., Ltd. from consortium of sellers.
August 17, 2018
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LS Cable & System Ltd. singed a contract to acquire additional 6.03% stake in GAON CABLE Co., Ltd. (KOSE:A000500) from consortium of sellers on August 17, 2018. Under the transaction, LS Cable & System Ltd. acquires 0.25 million shares. Post transaction, LS Cable & System Ltd. will hold 37.62% stake. Details of changes in individual shareholders and related parties' equity ratio will be announced on payment date August 21, 2018. The transaction has been resolved by the Board of LS Cable & System Ltd.
GAON CABLE CO., LTD is a Korea-based company mainly engaged in the manufacture of electrical cables and telecommunications cables. The Companyâs electrical cables consist of power cables, bare wires, insulated wires and control cables mainly used to transmit electric energy. Its telecommunication cables used to transmit information between modes in network. It also provides optical fiber cables, including loose tube jelly filled cores, loose tube dry cores, ribbon tube dry cores, break out optical cables and distribution optical cables. The Company distributes its product within domestic market and to overseas markets, including America, France, Singapore, Japan, Australia, Bangladesh and others.