An unknown buyer acquired Befesa Zinc Korea Co., Ltd. from Hankook Steel Co., Ltd. for KRW 5.1 billion.
July 17, 2016
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An unknown buyer acquired Befesa Zinc Korea Co., Ltd. from Hankook Steel Co., Ltd. (KOSE:A025890) for KRW 5.1 billion on July 18, 2016. Hankook Steel Co., Ltd. sold entire 0.4 million shares and holds zero stake post transaction. Befesa Zinc Korea Co., Ltd. reported total assets of approximately KRW 86.5 billion, shareholder's equity of approximately KRW 54.32 and total liabilities of approximately KRW 32.2 billion for the year ended 2015. Resolution date of board of Directors of Hankook Steel was July 18, 2016. Scheduled date for sales is July 18, 2016.
An unknown buyer completed the acquisition of Befesa Zinc Korea Co., Ltd. from Hankook Steel Co., Ltd. (KOSE:A025890) on July 18, 2016.
Hankook Steel Co., Ltd. is a Korea-based manufacturer mainly engaged in the provision of cast steels. The Company operates its business through three segments: cast steel segment, building materials segment and scrap iron segment. The cast steel segment provides four categories of products: shipbuilding equipment, including rudder horns, stern bosses, propeller bosses, tillers, half tillers, shoe pieces, stern tubes, rudder upper castings and others; iron and steel making products, including slag pots, ladles and shoe plates; industrial machinery products, including frames, valves and pump castings, as well as cement and construction equipment products. The building materials segment provides bolted plate (BP) joints, composite head reinforcement pipe piles and mechanical joint of iron bars. The scrap iron segment engages in the manufacture and distribution of compressed scarp irons. The Company distributes its products within domestic market and to overseas markets.