An unknown buyer cancelled the acquisition of Kwangjang Atomotive Co., Ltd. from Wonil Special Steel Co., Ltd..
November 20, 2020
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An unknown buyer agreed to acquire 23.5% in Kwangjang Atomotive Co., Ltd. from Wonil Special Steel Co., Ltd. (KOSDAQ:A012620) for KRW 6.5 billion on November 21, 2019. As per terms, 0.04 million shares will be acquired. Post completion Wonil Special Steel Co., Ltd. will exit from Kwangjang Atomotive Co., Ltd. The Board of Directors resolved the deal on November 21, 2019. The deal is expected to close on December 26, 2019.
An unknown buyer cancelled the acquisition of Kwangjang Atomotive Co., Ltd. from Wonil Special Steel Co., Ltd. (KOSDAQ:A012620) on November 21, 2020.
WONIL SPECIAL STEEL Co., Ltd. is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Companyâs products consist of high carbon tool steels used for tap gauges and tap dies; hot work tool steels used for hammer dies, extrusion dies, ram dies and others; cold work tool steels used for press dies, drawing dies and rolls; high speed tool steels used for reamers, bites, drills, punches and others; plastic mold steels used for mold bases, bumper molds, cores and cavities; structural steels used for shafts, gears, bolts, nuts, keys, cranks, pins, couplings and others; bearing steels used for bearings, shafts and others, and flame hardening steels used for blanking dies and trimming dies. It also engages in the processing business and rental business. The Company distributes its products within domestic market and to overseas markets.