An unknown buyer agreed to acquire a 9.02% stake in New Daewon Energy Co., Ltd. from Daewon Cable. Co., Ltd. for KRW 7.7 billion.
December 02, 2021
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An unknown buyer agreed to acquire a 9.02% stake in New Daewon Energy Co., Ltd. from Daewon Cable. Co., Ltd. (KOSE:A006340) for KRW 7.7 billion on December 3, 2021. Daewon Cable will dispose off 10,000 shares, representing its total ownership of 9.02% in New Daewon Energy. The New Daewon Energy Co. had total assets of KRW 18.65 billion, total debt of KRW 2.10 billion, total equity of KRW 16.55 billion, sales of KRW 1.37 billion and net loss of KRW 0.45 billion, at the end of 2020. The transaction is expected to close on December 30, 2021.
DAEWON CABLE. CO., LTD. is a Korea-based company mainly engaged in the manufacture of cables and wires. The Company produces copper and aluminum wires, naked electric wires, building wires, polyvinyl chloride (PVC) insulated wires, power and control cables, data and telecommunication cables, optical fiber cables, underground residential distribution (URD) power cables, local area network (LAN) cables, flame retardant cables, power supply wires and others. The products are used for electricity transmission and distribution, as well as city downtown and outside communications. It also involves in the processing business through its affiliate. The Company distributes its products within domestic market and to overseas markets. On June 24, 2013, the Company acquired 100% shares of a Korea-based company, which is mainly engaged in the designated waste treatments.
DAEWON CABLE. CO., LTD. 
