ILSEUNG Co., Ltd. (KOSDAQ:A333430) agreed to acquire an additional 19.13% stake in Dongbang Ship Machinery Co., Ltd. (KOSDAQ:A099410) from Seong-ho Kim, Bok-nam Lee and Ha-yun Kim for KRW 9.5 billion on September 1, 2021. As per the terms of the agreement, a down payment of KRW 2 billion and the remaining balance of KRW 7.5 billion shall be paid on January 1, 2021. Kim, Seong-ho, Lee, Bok-nam and Kim, Ha-yun shall sold 2.6 million shares in Dongbang Ship Machinery Co., Ltd. The Board of Directors of ILSEUNG Co., Ltd. has approved the transaction and the deal is expected to close on October 1, 2021.
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- Kim, Seong-ho, Lee, Bok-nam and Kim, Ha-yun agreed to acquire an additional 19.13% stake in Dongbang Ship Machinery Co., Ltd. from ILSEUNG Co., Ltd. for KRW 9.5 billion.