Jinho Woo completed the acquisition of 12.42% stake in SHINWON Construction co.,Ltd. from Estrozen Co., Ltd.
May 17, 2017
Share
Jinho Woo signed a contract to acquire 12.42% stake in SHINWON Construction co.,Ltd. (KOSDAQ:A017000) from Estrozen Co., Ltd. for KRW 400 million on April 18, 2017. Jinho Woo will pay KRW 400 million as deposit at the time of contract singing date and KRW 10.3 billion is expected to be paid on May 18, 2017. As on April 19, 2017, it is announced that KRW 10.3 billion will be paid on May 19, 2017. The acquisition was funded from Jinho Woo's own funds. Post completion, Estrozen Co., Ltd. will not hold any stake in SHINWON Construction co.,Ltd. The deal is expected to close on May 18, 2017.
Jinho Woo completed the acquisition of 12.42% stake in SHINWON Construction co.,Ltd. (KOSDAQ:A017000) from Estrozen Co., Ltd. on May 18, 2017. The entire consideration was paid on closing.
SHINWON Construction co.,Ltd. is a Korea-based company mainly engaged in the construction business. The Company operates its business through four main divisions: housing division, architecture division, civil engineering division and leisure division. Its housing division constructs apartments and other residential buildings. Its architecture division constructs commercial buildings, office buildings, public buildings, educational facilities and others. Its civil engineering division constructs roads, tunnels, bridges, subways, railways, airports and harbors, as well as power plants, petrochemical plants, water and sewage treatment plants and others. Its leisure division constructs leisure facilities, such as golf courses and clubs.
SHINWON CONSTRUCTION COMPANY LTD 
