Tailim Packaging Industrial Co., Ltd. agreed to acquire an additional 24.7% stake in Dong Won Paper Co. for KRW 20
May 08, 2016 at 05:00 am
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Tailim Packaging Industrial Co., Ltd. (KOSE:A011280) agreed to acquire an additional 24.7% stake in Dong Won Paper Co. for KRW 20 billion on May 8, 2015. Tailim will acquire 0.57 million shares and will hold 1.16 million shares (50.2% stake) on completion. For the year ended December 31, 2014, Dong Won Paper reported total assets of KRW 66.9 billion, total equity of KRW 16.5 billion, revenues of KRW 64.1 billion and net loss of KRW 619 million. The share transaction amount and share transfer completion period is the completion period of several condition precedent of equity transaction. Tailim Packaging Industrial will disclose once the transaction scheduled date is confirmed. As of July 9, 2015, the scheduled date for acquisition was disclosed as July 9, 2015.
Tailim Packaging Industrial Co., Ltd. (KOSE:A011280) cancelled the acquisition of an additional 24.7% stake in Dong Won Paper Co. on May 8, 2016.
Tailim Packaging Co., Ltd, formerly Tailim Packaging Industrial Co., Ltd., is a Korea-based company principally engaged in the manufacturing and sale of corrugated boxes. Along with its subsidiaries, the Company operates its business through three segments. Corrugated Boxes segment manufactures and sells boxes, materials and by-products. Corrugated Papers segment manufactures and sells test liner papers, corrugating medium papers and tube papers, also does waste disposal. Freight Transportation segment operates the transportation of goods. The Company distributes its products within domestic market and to overseas markets.