Hoban Engineering Co., Ltd. completed the acquisition of 40% stake Taihan Electric Wire Co., Ltd..
May 17, 2021
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Hoban Engineering Co., Ltd. entered into a letter of intent to acquire 40% stake Taihan Electric Wire Co., Ltd. (KOSE:A001440) for approximately KRW 250 billion on March 26, 2021. Hoban Engineering Co., Ltd. agreed to acquire 40% stake in Taihan Electric Wire Co., Ltd. (KOSE:A001440) from Nike, Inc. for approximately KRW 250 billion on March 29, 2021. Under the terms Hoban Engineering will acquire 342.6 million shares of Taihan Electric Wire for KRW 735 per share. The acquisition is self funded. The transaction is expected to close on May 31, 2021.
Hoban Engineering Co., Ltd. completed the acquisition of 40% stake Taihan Electric Wire Co., Ltd. (KOSE:A001440) on May 18, 2021.
Taihan Electric Wire Co Ltd is a Korea-based company mainly engaged in the manufacturing of electric wires and cables. The Company operates optical fiber business, optical cable business and electrical work business. The Companyâs products consist of extra-high voltage cables, nuclear cables, control cables, electric power cables, insulated wires, trolley wires, fire protection cables, instrumentation cables, signal cables, factory automation cables and others, which are used for power generation and distribution, and optical cables, communication cables, wireless communication cables and others, which are used for telecommunication. The Company also provides copper rods, magnet wires, heating systems and others. It also involves in the electrical work business.