Daesung Group Partners.Co.,Ltd. cancelled the acquisition of an additional 44.3% stake in Daesung Industrial Co., Ltd..
December 25, 2017
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Daesung Group Partners.Co.,Ltd. (KOSE:A005620) agreed to acquire an additional 44.3% stake in Daesung Industrial Co., Ltd. (KOSE:A128820) for KRW 50 billion on December 26, 2016. Under the terms of the transaction, Daesung Group Partners.Co.,Ltd. (KOSE:A005620) agreed to acquire an additional 10 million shares in Daesung Industrial Co., Ltd. As a result of the transaction, Daesung Group will hold 77.4% stake in Daesung Industrial.
Daesung Group Partners.Co.,Ltd. (KOSE:A005620) cancelled the acquisition of an additional 44.3% stake in Daesung Industrial Co., Ltd. (KOSE:A128820) on December 26, 2017.
Daesung Industrial Co., Ltd. is a Korea-based company mainly engaged in the distribution of petroleum gas. It operates its businesses through four segments. It oil/gas segment operates gas stations and charging stations, selling oils and other gases, as well as develops oil and gas fields in overseas mining lots. Its construction segment constructs residential, commercial and industrial buildings, including apartments, offices, hotels, theaters, factories and others. Its distribution segment operates complex shopping town, including department stores, hotels, musical theaters and others. Its other segment involves in the cogeneration business, providing local heat, steam and electricity; provision of gas meters, gas boilers and hydraulic valves used for agricultural machineries; computer system integration, as well as coal mining. On December 4, 2013, it transferred all the asset and debts of Kojen Business Unit to DS POWER CO,.LTD.
DAESUNG INDUSTRIAL CO., LTD. 
