Daesung Industrial Co., Ltd. cancelled the acquisition of an additional 41% stake in Daesung Celtic Co., Ltd. from Celtic Asia Limited.
May 30, 2019
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Daesung Industrial Co., Ltd. (KOSE:A128820) agreed to acquire an additional 41% stake in Daesung Celtic Co., Ltd. from Celtic Asia Limited for KRW 17.8 billion on May 31, 2018. Daesung Industrial Co., Ltd. will acquire 2.15 million shares in cash. After the transaction, Daesung Industrial Co., Ltd. will hold 2.68 million shares amounting to 51% stake in Daesung Celtic Co., Ltd. The transaction is expected to be completed on June 1, 2018.
Daesung Industrial Co., Ltd. (KOSE:A128820) cancelled the acquisition of an additional 41% stake in Daesung Celtic Co., Ltd. from Celtic Asia Limited on May 31, 2019.
Daesung Industrial Co., Ltd. is a Korea-based company mainly engaged in the distribution of petroleum gas. It operates its businesses through four segments. It oil/gas segment operates gas stations and charging stations, selling oils and other gases, as well as develops oil and gas fields in overseas mining lots. Its construction segment constructs residential, commercial and industrial buildings, including apartments, offices, hotels, theaters, factories and others. Its distribution segment operates complex shopping town, including department stores, hotels, musical theaters and others. Its other segment involves in the cogeneration business, providing local heat, steam and electricity; provision of gas meters, gas boilers and hydraulic valves used for agricultural machineries; computer system integration, as well as coal mining. On December 4, 2013, it transferred all the asset and debts of Kojen Business Unit to DS POWER CO,.LTD.
DAESUNG INDUSTRIAL CO., LTD. 
