Hotel Hyundai Keumkang Co., Ltd. cancelled the acquisition of an additional 0.47% stake in Daewon Kangup Co., Ltd..
January 28, 2014 at 05:00 am
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Hotel Hyundai Keumkang Co., Ltd. agreed to acquire an additional 0.47 million shares of Daewon Kangup Co., Ltd. (KOSE:A000430) for KRW 2.4 billion in cash on January 28, 2013. Hotel Hyundai Keumkang Co., Ltd. is acquiring 0.29 million shares of Daewon Kangup Co., Ltd. representing 0.47% stake. Post transaction, Hotel Hyundai Keumkang Co., Ltd. will hold 5.54% stake in Daewon Kangup Co., Ltd. Board of Directors of Daewon Kangup Co., Ltd. resolved the transaction. The transaction is expected to close by January 29, 2013.
Hotel Hyundai Keumkang Co., Ltd. cancelled the acquisition of an additional 0.47 million shares of Daewon Kangup Co., Ltd. (KOSE:A000430) on January 28, 2014.
DaeWon Kang Up Co., Ltd is a Korea-based company engaged in the manufacturing and sale of automobile parts. The Company mainly produces springs and seats. Its spring products consist of suspension springs, which include leaf springs, coil springs, stabilizer bars, air springs, air suspension systems and pusher axle suspension kits, as well as precision springs, which consist of engine valve springs, auto-clutch return springs, wire springs, flat springs, information technology (IT) components, die springs and disk springs. Its seat products are comprised of seats for vehicles and trains. It also produces and exports spring and seat manufacturing equipment. On October 11, 2013, it established a new overseas subsidiary, namely DAEWON-AvtoVazAgregat Seats LLC, engaged in the production, assembly and sale of seat and seat system.
DAEWON KANG UP CO., LTD. 
