Cherry Hill Fund 2, Cherry Hill Fund 3, Cherry Hill Fund 4, WJ Consortium 3, WJ Consortium 6, Violet Fund 3 and Growth and Value Fund 8 signed a contract to acquire unknown minority stake in Dong Won Corporation from consortium of sellers for approximately KRW 120 billion.
July 03, 2018
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Cherry Hill Fund 2, Cherry Hill Fund 3, Cherry Hill Fund 4, WJ Consortium 3, WJ Consortium 6, Violet Fund 3 and Growth and Value Fund 8 signed a contract to acquire unknown minority stake in Dong Won Corporation (KOSE:A003580) from consortium of sellers for approximately KRW 120 billion on July 3, 2018. As per the amendment made on July 4, 2018, Growth and Value Fund 7 replaced Growth and Value Fund 8 as buyer.
Under the transaction, buyers will acquire 12.49 million shares at KRW 9,500 per share, out of which 1.81 million shares are considered assuming conversion of bonds held by Gold Sand Fund. As consideration, down payment of KRW 12.5 billion shall be paid a day after contract signing date and balance payment of approximately KRW 106.15 billion shall be paid either until the date negotiated by the seller and the buyer or the resignation submission letter which is required for the management right sales within 15 from the contract signing date. As per the amendment report dated July 17, 2018, the balance of KRW 106.1 billion shall be paid as; KRW 23.7 billion will be paid on July 18, 2018 and KRW 82.4 billion will be paid on either until the date negotiated by the seller and the buyers or the resignation submission letter of the Chief Executive Officer of Dong Won Corporation that is required for the management right sales within 15 from the contract signing date.
As on July 20, 2018, Growth and Value Fund 7 acquired 1.8 million shares from W Investment & Finance Co., Ltd. and 10 others. As on July 20, 2018, WJ Consortium 3 acquired 1.78 million shares of Dong Won Corporation from Star Gamma Fund and 16 others. As on July 20, 2018, Cherry Hill Fund 4 acquired 1.78 million shares of Dong Won Corporation from Star Gamma Fund and 16 others. As on July 20, 2018. Cherry Hill Fund 2 acquired 1.5 million shares from Star Gamma Fund and 16 others. As on July 20, 2018, WJ Consortium 6 completed the acquisition of 1.5 million Stock with voting right and convertible bond of 0.26 million from Star Gamma Fund and 9 others. As of July 20, 2018, Violet Fund 3 acquired 1.78 million shares from Star Gamma Fund and 16 others. As on July 20, 2018, Cherry Hill Fund 3 acquired 1.8 million shares from Star Gamma Fund and 16 others.
CT Property Co Ltd, formerly Chorokbaem Company Co Ltd, is a Korea-based company mainly engaged in the broadcasting businesses. The Company operates its business through nine segments. The Restaurant Business segment provides restaurant operation, convenience food development and sales services. The Management Business segment provides entertainment services. The Broadcasting Program Business segment provides broadcasting and video production services. The Glass Business segment sales architectural plate glass, windows, and sealants. The Chemical Business segment provides services for producing lithium ion batteries and lithium ion polymer batteries related to lithium secondary batteries. The Real Estate Rental Business segment engages in the building rental businesses. The Broadcasting Channel Business segment provides broadcasting program planning, production and sales services. The Investment Business segment engages in investment business and investment consulting businesses.
Cherry Hill Fund 2, Cherry Hill Fund 3, Cherry Hill Fund 4, WJ Consortium 3, WJ Consortium 6, Violet Fund 3 and Growth and Value Fund 8 signed a contract to acquire unknown minority stake in Dong Won Corporation from consortium of sellers for approximately KRW 120 billion.