Dae Chung Co Ltd. and Yoon-seok Seol completed the acquisition of 48.74% stake in Taihan Fiberoptics Co., Ltd. from Taihan Electric Wire Co. Ltd..
October 15, 2012 at 12:00 am
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Dae Chung Co Ltd. and Yoon-seok Seol agreed to acquire 48.74% stake in Taihan Fiberoptics Co., Ltd. (KOSE:A010170) from Taihan Electric Wire Co. Ltd. (KOSE:A001440) for KRW 27.2 billion on May 22, 2012. Under the terms, Dae Chung Co Ltd. and Yoon-seok Seol will acquire 11.61 million shares. Dae Chung Co Ltd. will acquire 8.86 million shares, will pay a deposit of KRW 9.5 billion and balance payment of KRW 11.23 billion on July 21, 2012. Yoon-seok will acquire 2.75 million shares, pay a deposit of KRW 2.9 billion and balance payment of KRW 3.53 billion on July 21, 2012.
The Board resolved the transaction on May 22, 2012. The transaction is expected to close on July 21, 2012. As of July 20, 2012, Dae Chung and Yoon-seok Seol will pay the remaining balance on October 21, 2012 and the transaction is expected to close on October 21, 2012.
Dae Chung Co Ltd. and Yoon-seok Seol completed the acquisition of 48.74% stake in Taihan Fiberoptics Co., Ltd. (KOSE:A010170) from Taihan Electric Wire Co. Ltd. (KOSE:A001440) on October 15, 2012. The balance payment was completed 10 days in advance which was supposed to be paid on October 21, 2012.
TAIHAN Fiberoptics Co., Ltd is a Korea-based company mainly engaged in the manufacture and distribution of optical fibers and optical cables. The Company operates its business through two divisions: optical fiber division and optical cable division. Its optical fiber division mainly engages in the manufacturing of optical fibers and stainless steel loose tube (SSLT) cables used for optical communication cables and optical power ground wires (OPGWs). Its optical cable division engages in the manufacture and distribution of optical cables and OPGWs used in communication and electric power areas. The Company distributes its products within domestic market and to overseas markets.
TAIHAN FIBER OPTICS CO., LTD 