KG Chemical Corporation cancelled the acquisition of 12.73% stake in KG Eco Technology Services Co., Ltd.
June 14, 2014 at 12:00 am EDT
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KG Chemical Corporation (KOSE:A001390) agreed to sell 12.73% stake in KG Eco Technology Services Co., Ltd. for KRW 12.2 billion in cash on June 14, 2013. KG Chemical will sell 4.1 million shares of KG Eco Technology Services. Following the completion of the deal, KG Chemical will hold 1.8 million shares in KG Eco Technology. As on July 16, 2013, KG Chemical Corporation (KOSE:A001390) agreed to sell 12.73% stake in KG Eco Technology Services Co., Ltd. for KRW 15.4 billion. The scheduled completion date of transaction is July 18, 2013.
KG Chemical Corporation (KOSE:A001390) cancelled the acquisition of 12.73% stake in KG Eco Technology Services Co., Ltd. on June 14, 2014.
KG Eco Solution Co Ltd, formerly KG Eco Technology Services Co Ltd, is a Korea-based company primarily engaged in the manufacturing and sales of bioenergy. The Company operates through three segments. The Bioenergy Business segment is mainly engaged in the manufacture and sale of bio heavy oil. The Steel and Port Business segment is engaged in the manufacture and sale of steel products. Additionally, this segment is engaged in the port facility operations. The Automobile Manufacturing Business segment is engaged in the manufacture and sale of finished vehicles.
KG ECO SOLUTION CO.,LTD. 