CNH Hospitality Co., Ltd. sold 2.21% stake in Daegu Department Store Co., Ltd. for KRW 4 billion.
March 27, 2014 at 12:00 am
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CNH Hospitality Co., Ltd. sold 2.21% stake in Daegu Department Store Co., Ltd. (KOSE:A006370) for KRW 4 billion in cash on March 26, 2014. Under the terms of the transaction, CNH Hospitality Co., Ltd. is selling 0.2 million shares of Daegu Department Store Co., Ltd. Post transaction, CNH Hospitality Co., Ltd. will hold 3.91% stake in Daegu Department Store Co., Ltd. The Board of Directors resolved the deal on March 26, 2014. The transaction is expected to be closed by March 26, 2014.
CNH Hospitality Co., Ltd completed the sale of 2.21% stake in Daegu Department Store Co., Ltd. (KOSE:A006370) on March 26, 2014.
DAEGU DEPARTMENT STORE CO., LTD. is a Korea-based company engaged in the operation of department stores. The Company operates its business through Debec Main Store and Debec Plaza. Through its department stores, its offerings are comprised of men's and women's apparel, shoes, bags, accessories, cosmetics, home appliances, electrical appliances, furniture, kitchen utensils foods and other miscellaneous goods. It also provides its products through its Internet shopping mall. In addition, it engages in the leasing business.
DAEGU DEPARTMENT STORE CO., LTD. 
