Jeongsan & Company Inc. signed a contract to acquire 28.5% stake in Cosmo Chemical Co., Ltd. from Cosmo Turnaround Limited for KRW 61 billion.
January 27, 2019
Share
Jeongsan & Company Inc. signed a contract to acquire 28.5% stake in Cosmo Chemical Co., Ltd. (KOSE:A005420) from Cosmo Turnaround Limited for KRW 61 billion on January 28, 2019. Jeongsan & Company will acquire 4.5 million shares and will hold 28.5% stake after completion of the transaction. Jeongsan & Company will fund the transaction through own funds of KRW 52.5 billion and borrowings of KRW 8.5 billion. Transaction is expected to completed by March 29, 2019.
COSMO CHEMICAL CO., LTD. is a Korea-based company mainly engaged in the manufacture of titanium dioxides. The Company produces titanium dioxides, which are used in rubbers, papers, resins, paints, bricks, electronic components, multi layer ceramic capacitors (MLCCs), catalysts and others under the brand name COTIOX KA-100 and COTIOX KA- 300. It also provides cobalt sulfates, including liquid cobalt sulfates, solid cobalt sulfates and cathode coppers, which are used for secondary lithium batteries, paint desiccants, cobalt pigments, tire bonds, electricity and communication cables, construction materials and others; water treatment agents, such as ferrous sulfates, poly ferric sulfates, liquid ferrous sulfates, gypsums and others, which are used in wastewater treatment agents, construction materials and other industries. The Company distributes its products within domestic market and to overseas markets.
COSMO CHEMICAL CO., LTD. 
