Daesung Holdings Co., Ltd. cancelled the acquisition of remaining 50% stake Kyoungbuk City Gas Co., Ltd.
November 16, 2018
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Daesung Holdings Co., Ltd. (KOSE:A016710) agreed to acquire remaining 50% stake in Kyoungbuk City Gas Co., Ltd for KRW 30.4 billion on November 17, 2017. The consideration is paid in cash. Under the terms, Daesung Holdings will acquire 0.6 million shares. Post-acquisition, Daesung Holdings will hold 1.2 million shares (100% stake). As of December 31, 2016, Kyoungbuk City Gas Co., Ltd reported total assets of KRW 64.3 billion, net assets of KRW 37.01 billion, sales of KRW 81.1 billion and net profit of current period of KRW 3.96 billion. The transaction is resolved by Board of Directors of Daesung Holdings Co., Ltd and expected to close on November 17, 2017.
Daesung Holdings Co., Ltd. (KOSE:A016710) cancelled the acquisition of remaining 50% stake Kyoungbuk City Gas Co., Ltd on November 17, 2018.
DAESUNG HOLDINGS CO., LTD. is a Korea-based holding company engaged in the management of its subsidiaries. The Company's subsidiaries consist of DAESUNG ENERGY CO., LTD., Daesung Private Equity, Inc., Daesung Energy & Environment Co., Ltd., DAESUNGGLOBALNETWORK CO., LTD., Daesung E&C, KYOUNG BUK CITY GAS CO., LTD and others, which are mainly engaged in the natural gas supply and distribution, venture capital investment, land fill gas utilization, telemarketing, communication equipment maintenance, plant piping system construction, residential building construction, and other businesses. The Company also operates in two business divisions. The educational content division provides educational solutions, contents and e-learning related services. The information technology (IT) division provides data processing, system integration, educational contents development, as well as wired telephone and Internet phone services and operates mobile business.
DAESUNG HOLDINGS CO., LTD. 
