Ki-Ho Kim and other buyers acquired 65.1% stake in Kwang Myung SG Co., Ltd. from Kwang Myung Electric Engineering Co. Ltd..
December 27, 2013 at 09:30 am IST
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Ki-Ho Kim and other buyers acquired 65.1% stake in Kwang Myung SG Co., Ltd. from Kwang Myung Electric Engineering Co. Ltd. (KOSE:A017040) on December 27, 2013. Kwang Myung Electric Engineering Co. Ltd. sold 1.73 million shares and reduced its holding to 0.76 million shares in Kwang Myung SG Co., Ltd. Ki-Ho Kim and 83 other buyers acquired 54.39% stake in Kwang Myung SG Co., Ltd. comprises 1.44 million shares from Kwang Myung Electric Engineering Co. Ltd. for KRW 1.3 billion. During the year 2012, Kwang Myung SG Co., Ltd. had total assets of KRW 11.93 billion, total liabilities of KRW 9.19 billion, total stockholders' equity of KRW 2.75 billion, and capital of KRW of 1.33 billion. Board of Directors of Kwang Myung Electric Engineering Co. Ltd. made a resolution in favor of the transaction on December 27, 2013.
Ki-Ho Kim and other buyers completed the acquisition of 65.1% stake in Kwang Myung SG Co., Ltd. from Kwang Myung Electric Engineering Co. Ltd. (KOSE:A017040) on December 27, 2013.
KWANG MYUNG ELECTRIC CO.,LTD, formerly KWANG MYUNG ELECTRIC ENGINEERING CO.,LTD is a Korea-based company primarily engaged in the manufacture of switchgears. The Company mainly operates three main divisions: switchgears division, photovoltaic systems division and electric power equipment. Its switchgears division engages in the manufacture of switchgears, including high- and low-voltage switchgears, motor control center systems, gas insulated switchgears, control panels, package switchgears, panel boards and bus ducts. Its photovoltaic systems division involves in the photovoltaic system works. Its electric power equipment division provides relays and others. In addition, the Company engages in the real estate rental business. The Company distributes its products within domestic market and to overseas markets. On December 27, 2013, it sold a certain shares of Kwang Myung SG. After that, it held a 28.66% stake in Kwang Myung SG.
KWANG MYUNG ELECTRIC CO.,LTD 
