Daesung Industrial Co., Ltd. cancelled the acquisition of additional 12.1% stake in Ds Power Co., Ltd.
February 27, 2019
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Daesung Industrial Co., Ltd. (KOSE:A128820) agreed to acquire additional 12.1% stake in Ds Power Co., Ltd. for KRW 17.3 billion on February 28, 2018. Consideration for the acquisition will be paid in cash. Daesung Industrial Co., Ltd will acquire 3 million shares of DS Power and post transaction will hold 6.3 million shares representing 25.37% stake in DS Power. The transaction is resolved by the Board of Daesung Industrial on February 28, 2018. The transaction is expected to complete on February 28, 2018.
Daesung Industrial Co., Ltd. (KOSE:A128820) cancelled the acquisition of additional 12.1% stake in Ds Power Co., Ltd. on February 28, 2019.
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. 
