Soosung Co.,Ltd. completed the acquisition of 11.99% stake in ED Co., Ltd. from HANKOOK Corporation Inc..
May 25, 2017
Share
Soosung Co.,Ltd. (KOSDAQ:A084180) agreed to acquire 11.99% stake in ED Co., Ltd. (KOSDAQ:A033110) from HANKOOK Corporation Inc. (KOSDAQ:A050540) for KRW 23.1 billion on May 10, 2017. Soosung Co.,Ltd. will acquire 4.9 million shares of ED Co., Ltd. As reported that KRW 3 billion was paid on May 10, 2017 as deposit, second payment of KRW 16.13 billion will be paid after the issuance of the 2nd unregistered unguaranteed convertible bonds on May 15, 2017 and remaining amount of KRW 4.01 billion will be paid on May 25, 2017. Out of 4.9 million shares, 3.9 million shares will be transferred after payment of second payment on May 15, 2017 and remaining on closing.
The Board of HANKOOK Corporation and Soosung passed the resolution for the transaction on May 10, 2017. The transaction is expected to close on May 25, 2017. Sang Rok Accounting Firm acted as external rating institution name.
Soosung Co.,Ltd. (KOSDAQ:A084180) completed the acquisition of 11.99% stake in ED Co., Ltd. (KOSDAQ:A033110) from HANKOOK Corporation Inc. (KOSDAQ:A050540) on May 25, 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.
SOOSUNG WEBTOON CO., LTD. 
