GnCenergy Co., Ltd cancelled the acquisition of 64.61% stake in Hanbit Energy Co., Ltd.
December 16, 2019
Share
GnCenergy Co., Ltd (KOSDAQ:A119850) agreed to acquire 64.61% stake in Hanbit Energy Co., Ltd. for KRW 4.2 billion on December 17, 2018. GnCenergy Co., Ltd will acquire 0.04 million shares of Hanbit Energy Co., Ltd. in cash. Hanbit Energy Co., Ltd. reported total assets of KRW 5.85 billion and total capital of KRW 4.52 billion as at December 31, 2017. Hanbit Energy Co., Ltd. reported sales of KRW 12.27 billion and net profit of KRW 439 million in 2017. The Board of Directors passed a resolution for the transaction on December 17, 2018. The transaction is expected to be completed on December 27, 2018.
GnCenergy Co., Ltd (KOSDAQ:A119850) cancelled the acquisition of 64.61% stake in Hanbit Energy Co., Ltd. on December 17, 2019.
GnCenergy Co., Ltd is a Korea-based company mainly engaged in the development and manufacture of electricity generation equipment. The Company operates three main businesses: diesel engine electricity generation business, small size cogeneration business and bio gas electricity generation business. Its main products are electricity generation equipment, such as diesel engine generators, gas generators, gas turbine generators and others. The Companyâs main customers consist of telecommunication companies, such as KT, SK Telecom and LG U+; information technology (IT) companies, such as Samsung SDS, LG CNS, SK C&C, NHN Corporation and others, and hardware companies, such as Samsung Electronics and LG Electronics.
GNCENERGY CO., LTD 
