An unknown buyer cancelled the acquisition of 4.6% stake in ED Co., Ltd. from Soosung Co.,Ltd..
March 18, 2019
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An unknown buyer agreed to acquire 4.6% stake in ED Co., Ltd. (KOSDAQ:A033110) from Soosung Co.,Ltd. (KOSDAQ:A084180) for KRW 4.5 billion on March 19, 2018. Soosung Co.,Ltd. will sell 2.5 million shares of ED Co., Ltd. Prior to the transaction, Soosung Co.,Ltd. held 4.12 million shares amounting to 7.59% stake in Soosung Co.,Ltd. The Board of Directors passed a resolution for the transaction on March 19, 2018. The transaction is expected to be completed on March 19, 2018. Soosung Co.,Ltd. will use the proceeds for repayment of borrowings.
An unknown buyer cancelled the acquisition of 4.6% stake in ED Co., Ltd. (KOSDAQ:A033110) from Soosung Co.,Ltd. (KOSDAQ:A084180) on March 19, 2019.
Soosung Webtoon Co Ltd, formerly Soosung Salvacion Co Ltd, is a Korea-based company principally engaged in the manufacture and distribution of industrial trucks and transfer machines. The Companyâs products include electric forklift trucks, scissors lifts, personnel lifts, platform trucks, pallet trucks, stackers, drum handling equipment, lift tables, dock levelers, golf cars, utility cars, diesel forklift trucks and other related products. The Company distributes its products within domestic market and to the overseas markets, including America, Europe, Africa and Oceania, among others.
SOOSUNG WEBTOON CO., LTD. 
