Oriental Holdings Co., Ltd. completed the acquisition of 50% stake in Oriental Precision & Engineering Co., Ltd. from a group of seller.
September 27, 2017
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Oriental Holdings Co., Ltd. entered into an agreement to acquire 50% stake in Oriental Precision & Engineering Co., Ltd. (KOSDAQ:A014940) from a group of seller for KRW 20.1 billion on August 11, 2017. As per terms, Oriental Holdings Co., Ltd. will acquire 20.3 million shares at KRW 990 per share in an off-market transaction. Out of total consideration, KRW 2.01 billion will be paid upon signing of contract and remaining balance on the closing date. The transaction is expected to be closed on December 10, 2017.
Oriental Holdings Co., Ltd. completed the acquisition of 50% stake in Oriental Precision & Engineering Co., Ltd. (KOSDAQ:A014940) from a group of seller on September 28, 2017. The balance payments and stocks has been completed on September 28, 2017.
ORIENTAL PRECISION & ENGINEERING CO.,LTD is a Korea-based company engaged in the manufacture and sale of shipping superstructures and shipping machineries. The Company operates its business through two main segments: shipping superstructure segment and shipping machinery segment. Its shipping superstructure segment mainly offers deck houses, engine room casings, funnels, hull blocks and offshore structures such as heavy cargo carriers, floating docks, hopper barges and others. Its shipping machinery segment mainly offers cranes, such as deck cranes, hose handling cranes, provision cranes, knuckle cranes, monorail cranes and gantry cranes; davits, such as life boat davits and free-fall davits, as well as moorings and winches. The Company distributes its products within domestic market and to overseas markets, including Japan, China and Europe.
ORIENTAL PRECISION & ENGINEERING CO.,LTD. 
