TONGYANG Cement & Energy Corporation (KOSDAQ:A038500) agreed to sell Tongyang Pile, Inc. for KRW 39.1 billion on June 18, 2014. The priority bidder for the sale of Tongyang Pile was selected. TONGYANG Cement & Energy Corporation is selling 0.82 million shares of Tongyang Pile.

The transaction received the court's approval. The transaction has been resolved by Board of Directors of TONGYANG Cement & Energy Corporation. The transaction is expected to be closed by December 11, 2014