Hanil E-Hwa Co., Ltd. cancelled the acquisition of Dooyang Industrial Co., Ltd.
January 14, 2014 at 04:00 am
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Hanil E-Hwa Co., Ltd. (KOSE:A007860) agreed to acquire Dooyang Industrial Co., Ltd. for approximately KRW 150 billion on January 14, 2013. Hanil agreed to acquire 0.15 million shares of Dooyang Industrial. As of December 31, 2012, Dooyang Industrial had total assets of KRW 13.9 billion, total common equity of KRW 13.4 billion, net income of KRW 1.3 billion and revenues of KRW 9 billion. The Board of Directors of Hanil E-Hwa took the resolution for acquisition on January 14, 2013. The transaction is expected to close by January 14, 2013. PricewaterhouseCoopers acted as financial advisor to Hanil E-Hwa.
Hanil E-Hwa Co., Ltd. (KOSE:A007860) cancelled the acquisition of Dooyang Industrial Co., Ltd. on January 14, 2014.
Seoyon Co Ltd is a Korea-based company principally engaged in the manufacture and sale of automobile interior parts and accessories. The Company is principally engaged in the manufacture and sale of automotive accessories and other automotive parts such as door trims, consoles, bumper, head linings, commercial vehicle seats as well as others. In addition, the Company is engaged in the manufacture and sale of molds and heavy equipment such as press molds, injection molds and heavy equipment cabins. The Company distributes its products within domestic market and to overseas markets, including Europe, China, India and others.
SEOYON CO., LTD. 
