Kyungchang Industrial Co. Ltd. completed the acquisition of an additional 36.86% stake in KCW Corporation Co.Ltd. for KRW 16 billion.
February 27, 2015
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Kyungchang Industrial Co. Ltd. (KOSDAQ:A024910) made an offer to acquire the additional 57.23% stake in KCW Corporation Co.Ltd. (KOSDAQ:A068060) from I'M Investment & Securities Co., Ltd, Asset Management Arm and others for KRW 24.9 billion in cash on February 4, 2015. Kyungchang Industrial will acquire 3.11 million shares of KCW Corporation for KRW 8000 per share. Under the transaction, Kyungchang will acquire all remaining shares of KCW Corporation not held by itself and the related parties. Kyungchang Industrial Co. Ltd. holds 15.07% stake, Deok-su Son holds 23.54%, Tae-hwan Son holds 2.50%, Il-Ho Son holds 1.10% and Gichang Son holds 0.55% stake. The tender offer period will be from February 4, 2015 to February 27, 2015. The payment of the transaction will be done on March 6, 2015. NH Investment & Securities Co., Ltd. acted as proxy advisor for the transaction.
Kyungchang Industrial Co. Ltd. (KOSDAQ:A024910) completed the acquisition of an additional 36.86% stake in KCW Corporation Co.Ltd. (KOSDAQ:A068060) from I'M Investment & Securities Co., Ltd, Asset Management Arm and others for KRW 16 billion on February 27, 2015.
Kyung ChangIndustrial Co., Ltd is a Korea-based company engaged in the manufacture of automobile parts. The Company mainly provides cables, such as accelerator cables, clutch cables, adjust cables, select and shift gear cables, automatic transmission cables, hood cables, auto cruise cables, window regulator cables, door latch cables, seat cables, fuel filler door latch cables, parking brake cables and others; tanks, such as reservoir tanks; pedals, such as accelerator pedals, clutch pedals and brake pedals; levers, including auto levers and parking brake levers, and others, such as bands, striker assemblies and holder assemblies. The Company distributes its products within domestic market and to overseas markets.