An undisclosed buyer cancelled the acquisition of an unknown stake in PT. Dream Sentosa Indonesia from Shinsung Tongsang Co., Ltd..
November 30, 2017
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An undisclosed buyer agreed to acquire an unknown stake in PT. Dream Sentosa Indonesia from Shinsung Tongsang Co., Ltd. (KOSE:A005390) for KRW 15 billion on November 30, 2016. Under the terms of the transaction, Shinsung Tongsang will sell its entire 0.32 million shares of PT. Dream Sentosa Indonesia. For the year ended December 31, 2015, PT. Dream Sentosa Indonesia had total stockholders' equity of KRW 7.8 billion, total assets of KRW 25.5 billion, sales of KRW 37.7 billion and net loss of KRW 2.7 billion.
An undisclosed buyer cancelled the acquisition of an unknown stake in PT. Dream Sentosa Indonesia from Shinsung Tongsang Co., Ltd. (KOSE:A005390) on November 30, 2017.
SHINSUNGTONGSANG.CO.,LTD. is a Korea-based company principally engaged in the manufacturing of apparels. The Company operates in two segments: manufacturing segment and retail segment. It is the original equipment manufacturer (OEM) of knit apparels such as shirts, sweaters, jackets and others, which provided to Gap, Old Navy, Target, WalMart and other buyers. It supplies its casual apparels under the brand name OLZEN, UNIONBAY, TOPTEN and ZIOZIA. Its retail segment provides foodstuff. It also involves in the rental business. The Company distributes its apparel products within domestic market and to overseas market.