Hanil Cement Co., Ltd. and Asia Cement Co. Ltd. cancelled the acquisition of 74.05% stake in TONGYANG Cement & Energy Corporation from Tong Yang International Inc. and Tongyang Inc..
Hanil Cement Co., Ltd. (KOSE:A003300) and Asia Cement Co. Ltd. (KOSE:A183190) cancelled the acquisition of 74.05% stake in TONGYANG Cement & Energy Corporation (KOSDAQ:A038500) from Tong Yang International Inc. and Tongyang Inc. (KOSE:A001520) on August 28, 2015. The deal was cancelled as Sampyo Cement Copration and KDB Sigma 2 Corporate Financial Stability Private Equity Fund entered into a contract to acquire 54.97% stake in TONGYANG Cement & Energy Corporation (KOSDAQ:A038500) from Tongyang Inc. (KOSE:A001520) for approximately KRW 790 billion on August 28, 2015.