An unknown buyer agreed to acquire 69.56% stake in Dongjin Paperboard Co., Ltd. from Daelim Paper Co.,Ltd. for KRW 13.7 billion.
December 26, 2019
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An unknown buyer agreed to acquire 69.56% stake in Dongjin Paperboard Co., Ltd. from Daelim Paper Co.,Ltd. (KOSDAQ:A017650) for KRW 13.7 billion on December 27, 2019. Out of total consideration, KRW 2.7 billion was paid as down payment on December 27, 2019 and the balance amount will be paid on March 16, 2020. Daelim Paper will sell 0.42 million shares in the transaction and will own 0.18 million shares (representing 30.44% stake) in Dongjin Paperboard post completion. Transaction was resolved by the Board of Daelim Paper on December 27, 2019. Transaction is expected to close on December 30, 2019.
DaelimPaper is a Korea-based company engaged in paper business. The Company produces corrugated liner papers such as corrugated medium papers used as input in the middle of corrugated papers for goods safety and safe transportation, and liner boards used in the inner back sides under the brand name S120, B150, K180 and K220. Its products are for base papers of corrugated boards to make corrugated board boxes for external packing, and divided into liners for the surfaces and backs and medium papers for corrugated attachments.