KG Dongbu Steel Co.,Ltd. completed the acquisition of KG Enerchem Co., Ltd. from KG Chemical Corporation and KG Eco Technology Services Co., Ltd..
May 09, 2023
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KG Dongbu Steel Co.,Ltd. (KOSE:A016380) agree to acquire KG Enerchem Co., Ltd from KG Chemical Corporation (KOSE:A001390) and KG Eco Technology Services Co., Ltd. (KOSDAQ:A151860) for KRW 9.45 billion on May 4, 2023. KG Dongbu Steel entered into stock purchase contract to acquire KG Enerchem Co., Ltd from KG Chemical May 10, 2023. Under terms of transactions, KG Dongbu Steel Co will acquire 19.7 million shares at KRW 378 per share and will hold entire stake in KG Enerchem post completion. Transaction is expected expected date of signing the stock purchase contract on May 10, 2023.
KG Dongbu Steel Co.,Ltd. (KOSE:A016380) completed the acquisition of KG Enerchem Co., Ltd. from KG Chemical Corporation (KOSE:A001390) and KG Eco Technology Services Co., Ltd. (KOSDAQ:A151860) on May 10, 2023
KG Eco Solution Co Ltd, formerly KG Eco Technology Services Co Ltd, is a Korea-based company primarily engaged in the manufacturing and sales of bioenergy. The Company operates through three segments. The Bioenergy Business segment is mainly engaged in the manufacture and sale of bio heavy oil. The Steel and Port Business segment is engaged in the manufacture and sale of steel products. Additionally, this segment is engaged in the port facility operations. The Automobile Manufacturing Business segment is engaged in the manufacture and sale of finished vehicles.