ED Co., Ltd. completed the acquisition of 5.24% stake in Soosung Co.,Ltd. from Kim Jung-Tae.
June 29, 2017
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ED Co., Ltd. (KOSDAQ:A033110) signed a contract to acquire 5.24% stake in Soosung Co.,Ltd. (KOSDAQ:A084180) from Kim Jung-Tae for KRW 6.6 billion on May 31, 2017. As reported, ED will acquire 0.43 million shares in Soosung at KRW 15,325 per share. As on May 31, 2017, ED acquired 0.09 million shares and paid a deposit of KRW 1.32 billion. ED shall acquire the remaining 0.34 million shares by paying the balance consideration of KRW 5.27 billion on June 30, 2017. As per the revision on June 29, 2017, ED shall acquire the remaining shares by paying the balance consideration on June 29, 2017.
ED Co., Ltd. (KOSDAQ:A033110) completed the acquisition of 5.24% stake in Soosung Co.,Ltd. (KOSDAQ:A084180) from Kim Jung-Tae on June 29, 2017.
Soosung Webtoon Co Ltd, formerly Soosung Salvacion Co Ltd, is a Korea-based company principally engaged in the manufacture and distribution of industrial trucks and transfer machines. The Companyâs products include electric forklift trucks, scissors lifts, personnel lifts, platform trucks, pallet trucks, stackers, drum handling equipment, lift tables, dock levelers, golf cars, utility cars, diesel forklift trucks and other related products. The Company distributes its products within domestic market and to the overseas markets, including America, Europe, Africa and Oceania, among others.