Tokai Carbon Co., Ltd. completed the acquisition of an additional 9% stake in TOKAI CARBON KOREA Co., Ltd. from KC Co., Ltd..
May 27, 2018
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Tokai Carbon Co., Ltd. (TSE:5301) executed a share purchase agreement to acquire an additional 9% stake in TOKAI CARBON KOREA Co., Ltd. (KOSDAQ:A064760) from KC Co., Ltd. (KOSE:A029460) for KRW 77 billion on May 14, 2018. Under the terms of the agreement signed between the parties, a total of 1.05 million shares will be acquired at KRW 73,297 per share. After the transaction, Tokai Carbon Co., Ltd. will hold 44.4% stake in TOKAI CARBON KOREA and it will become a consolidated subsidiary of Tokai Carbon Co., Ltd., based on effective control criteria. Tokai Carbon Co., Ltd. will finance the consideration using own funds. The Board of Directors of Tokai Carbon Co., Ltd resolved in favor of the transaction on May 14, 2018. The transaction is expected to close on May 28, 2018. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor to Tokai Carbon Co., Ltd.
Tokai Carbon Co., Ltd. (TSE:5301) completed the acquisition of an additional 9% stake in TOKAI CARBON KOREA Co., Ltd. (KOSDAQ:A064760) from KC Co., Ltd. (KOSE:A029460) on May 28, 2018. The transaction was accretive to earnings per share of Tokai Carbon Co., Ltd.
Tokai Carbon Korea Co Ltd is a Korea-based company mainly engaged in the manufacturing and distribution of carbon products. The Company's product portfolio consists of silicon wafers and semiconductor materials. The Company's silicon wafers include high purified graphite for semiconductors and solar batteries, and silicon carbide (SiC) coated products and semiconductor materials. Its semiconductor materials include SiC wafers, wafer carriers, carbon and carbon composites, glassy carbons and silicon cathode electrodes. The Company also imports and sells heat exchangers and heaters. The Company distributes its products within domestic market and to overseas markets.