Cosmo Turn Around Company Limited entered into a contract to acquire 33.95% stake in Cosmo Chemical Co., Ltd. from Cosmo Global Co., Ltd. and Kyung Soo Hur for KRW 24.8 billion.
July 27, 2015
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Cosmo Turn Around Company Limited entered into a contract to acquire 33.95% stake in Cosmo Chemical Co., Ltd. (KOSE:A005420) from Cosmo Global Co., Ltd. and Kyung Soo Hur for KRW 24.8 billion on July 28, 2015. Cosmo Turn Around shall acquire 4.5 million shares of Cosmo Chemical at the price of KRW 5,500 per share. Cosmo Global is selling 3 million shares, Kyung-Soo shall sell 1.5 million shares.
Cosmo Turn Around Company Limited will use own fund of KRW 33 billion for the acquisition.
COSMO CHEMICAL CO., LTD. is a Korea-based company mainly engaged in the manufacture of titanium dioxides. The Company produces titanium dioxides, which are used in rubbers, papers, resins, paints, bricks, electronic components, multi layer ceramic capacitors (MLCCs), catalysts and others under the brand name COTIOX KA-100 and COTIOX KA- 300. It also provides cobalt sulfates, including liquid cobalt sulfates, solid cobalt sulfates and cathode coppers, which are used for secondary lithium batteries, paint desiccants, cobalt pigments, tire bonds, electricity and communication cables, construction materials and others; water treatment agents, such as ferrous sulfates, poly ferric sulfates, liquid ferrous sulfates, gypsums and others, which are used in wastewater treatment agents, construction materials and other industries. The Company distributes its products within domestic market and to overseas markets.
Cosmo Turn Around Company Limited entered into a contract to acquire 33.95% stake in Cosmo Chemical Co., Ltd. from Cosmo Global Co., Ltd. and Kyung Soo Hur for KRW 24.8 billion.
COSMO CHEMICAL CO., LTD. 
