Incheon City Gas Co. Ltd. cancelled the acquisition of an additional 10% stake in Cheongna Energy Co.,Ltd. from Lotte Engineering & Construction Co., Ltd.
September 20, 2013 at 09:30 am IST
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Incheon City Gas Co. Ltd. (KOSE:A034590) agreed to acquire an additional 10% stake in Cheongna Energy Co.,Ltd. from Lotte Engineering & Construction Co., Ltd. for KRW 10 billion on September 20, 2012. Incheon City Gas will acquire 2 million shares and will increase its holding to 6 million shares. For the year ended December 31, 2011, Cheongna Energy had total assets of KRW 388.19 billion, total liabilities of KRW 306.59 billion, total stockholders' equity of KRW 81.6 billion, capital of KRW 100 billion, sales revenue of KRW 14.64 billion, and net loss of KRW 5.13 billion. Board of Directors of Incheon City Gas resolved the transaction on September 20, 2012. The transaction is expected to close on September 28, 2012.
Incheon City Gas Co. Ltd. (KOSE:A034590) cancelled the acquisition of an additional 10% stake in Cheongna Energy Co.,Ltd. from Lotte Engineering & Construction Co., Ltd. on September 20, 2013.
INCHEON CITY GAS CO., LTD is a Korea-based company mainly engaged in the provision of natural gas. The Company provides liquefied natural gas (LNG) used for cooking and heating, industrial engineering production, compressed natural gas stations and others. It supplies gases to Bupyeong-gu and Gyeyang-gu, Incheon, Ganghwa-gun, part of Namdong-gu, Jung-gu, Daegot-myeon and Walgot-myeon Gimpo-si and others. In addition, the Company operates compressed natural gas (CNG) charging stations in Incheon International Airport, and customer service (CS) center and others.
Incheon City Gas Co. Ltd. cancelled the acquisition of an additional 10% stake in Cheongna Energy Co.,Ltd. from Lotte Engineering & Construction Co., Ltd.