ILSEUNG Co., Ltd. completed the acquisition of additional 19.13% stake in Dongbang Ship Machinery Co., Ltd. from Seong-ho Kim, Bok-nam Lee and Ha-yun Kim.
October 01, 2021
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ILSEUNG Co., Ltd. (KOSDAQ:A333430) agreed to acquire an additional 19.13% stake in Dongbang Ship Machinery Co., Ltd. (KOSDAQ:A099410) from Seong-ho Kim, Bok-nam Lee and Ha-yun Kim for KRW 9.5 billion on September 1, 2021. As per the terms of the agreement, a down payment of KRW 2 billion and the remaining balance of KRW 7.5 billion shall be paid on January 1, 2021. Kim, Seong-ho, Lee, Bok-nam and Kim, Ha-yun shall sold 2.6 million shares in Dongbang Ship Machinery Co., Ltd. The Board of Directors of ILSEUNG Co., Ltd. has approved the transaction and the deal is expected to close on October 1, 2021.
ILSEUNG Co., Ltd. (KOSDAQ:A333430) completed the acquisition of additional 19.13% stake in Dongbang Ship Machinery Co., Ltd. (KOSDAQ:A099410) from Seong-ho Kim, Bok-nam Lee and Ha-yun Kim on October 1, 2021. Post completion, ILSEUNG Co., Ltd. will hold 2.7997 million shares representing 20.68% stake, Sejin Heavy Industries Co., Ltd. will hold 1.090691 million shares representing 8.05% stake, Yoon Ji-won will hold 0.4 million shares representing 2.95% stake, Ha-hyeok Seong will hold 0.23 million shares representing 1.7% stake, Seong-ho Kim, Bok-nam Lee and Ha-yun Kim will hold no stake.
Il Seung Co Ltd, formerly Mirae Asset Daewoo Special Purpose Acquisition 4 Co, is a Korea-based company mainly engaged in the marine environmental equipment industry. The Company operates its business through three segments. The Environmental Equipment Business segment researches, develops and produces environmental equipment such as manure treatment equipment, scrubbers, fresh-water generators and fuel purifiers. The Shipbuilding Liquefied Natural Gas (LNG) Business segment produces LNG regasification equipment that vaporizes LNG, and designs materials including machinery, pipes, and structures installed on ship blocks. The Material Business segment supplies functional protective films, teflon tapes, resins, and engineering plastics (EP).
ILSEUNG Co., Ltd. completed the acquisition of additional 19.13% stake in Dongbang Ship Machinery Co., Ltd. from Seong-ho Kim, Bok-nam Lee and Ha-yun Kim.
ILSEUNG CO., LTD. 
