Hanwha Chemical Corp. agreed to acquire 50.7% stake in KPX Fine Chemical Co.,Ltd. from four individuals, KPX Holdings Co.,Ltd., Kwanak Sangsa Company Ltd., Kunduk Corporation, Sungjin AMC Co., Ltd. for KRW 42 billion.
August 13, 2014 at 05:00 am
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Hanwha Chemical Corp. (KOSE:A009830) agreed to acquire 50.7% stake in KPX Fine Chemical Co.,Ltd. (KOSE:A025850) from four individuals, KPX Holdings Co.,Ltd. (KOSE:A092230), Kwanak Sangsa Company Ltd., Kunduk Corporation, Sungjin AMC Co., Ltd. for KRW 42 billion on August 13, 2014. Other sellers include Gyu Mo Yang, Sun Ja Byun, Jun Young Yang and Na Young Lee.
Hanwha will acquire 1.9 million shares in the transaction. The transaction is expected to close on October 1, 2014.
KPX HOLDINGS CO., LTD. is a Korea-based company holding company engaged in the management of its subsidiaries. The Company's main subsidiaries consist of KPX CHEMICAL Co.,Ltd, engaged in the manufacture of polypropylene glycol, urethane products and electronic materials; KPX GREEN CHEMICAL CO.,LTD, mainly engaged in the provision of ethoxylates (EOA) used as surfactants; KPX Life Science Co., Ltd., engaged in the manufacture and distribution of active pharmaceutical ingredients (API) and pharmaceutical intermediates (PI), as well as KPX DEVELOPMENT CO., LTD, engaged in the management and leasing of KPX buildings and others, among others.
Hanwha Chemical Corp. agreed to acquire 50.7% stake in KPX Fine Chemical Co.,Ltd. from four individuals, KPX Holdings Co.,Ltd., Kwanak Sangsa Company Ltd., Kunduk Corporation, Sungjin AMC Co., Ltd. for KRW 42 billion.
KPX HOLDINGS CO., LTD. 
