Mastern Investment Management Co., Ltd. cancelled the acquisition of building and land in 17-3 Yeoeuido-dong, Yeongdeungpo-gu from Sam Whan Camus Co. Ltd..
January 28, 2013 at 11:00 pm
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Mastern Investment Management Co., Ltd. signed letter of intent to acquire building and land in 17-3 Yeoeuido-dong, Yeongdeungpo-gu from Sam Whan Camus Co. Ltd. (KOSE:A013700) for KRW 90.1 billion on October 17, 2012. Mastern Investment entered into contract to acquire building and land in 17-3 Yeoeuido-dong, Yeongdeungpo-gu from Sam Whan Camus on November 6, 2012. Mastern Investment Management Co., Ltd. will pay 10% deposit during succession signing date on December 7, 2012 and will pay remaining 90% amount on December 12, 2012. The Board of Directors of Sam Whan Camus passed resolution on November 6, 2012. The transaction is scheduled to close on December 12, 2012.
As of December 12, 2012, succession signing date was postponed to January 23, 2013 and the transaction is expected to complete on January 28, 2013. Mastern Investment will pay 10% on January 23, 2013 and the balance 90% on December 12, 2012. As of January 28, 2013, the transaction is now expected to complete on January 29, 2013.
Mastern Investment Management Co., Ltd. cancelled the acquisition of building and land in 17-3 Yeoeuido-dong, Yeongdeungpo-gu from Sam Whan Camus Co. Ltd. (KOSE:A013700) on January 29, 2013 as Mastern Investment Management did not comply with the terms and the conditions of the contract which states the transaction should be completed within 30 business days from the closing date of the transaction (December 12, 2012) which is January 28, 2013.
CAMUS ENGINEERING & CONSTRUCTION Inc., formerly SAMWHAN CAMUS CO., LTD is a Korea-based company mainly engaged in the construction business. The Company is involved in the construction of residential buildings construction, office buildings and commercial buildings, and reconstruction business and others. It also operates civil engineering business, which engages in the construction of roads, tunnels, subways, railways and others. It also engages in the manufacture and distribution of precast concretes (PCs) used in construction. In addition, the Company involves in the real estate leasing business. Its main clients are Korea Land and Housing Corporation, Halla Engineering and Construction Corporation, Citibank, Hyundai Capital Services, Inc. and others.
Mastern Investment Management Co., Ltd. cancelled the acquisition of building and land in 17-3 Yeoeuido-dong, Yeongdeungpo-gu from Sam Whan Camus Co. Ltd..
CAMUS ENGINEERING & CONSTRUCTION INC. 
