Shindaeyang Paper Co., Ltd. completed the acquisition of 46.4% stake in Daeyang Paper Mfg. Co., Ltd. from a group of sellers.
April 10, 2017
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Shindaeyang Paper Co., Ltd. (KOSE:A016590) agreed to acquire 46.4% stake in Daeyang Paper Mfg. Co., Ltd. (KOSDAQ:A006580) from a group of sellers for KRW 49.9 billion on April 10, 2017. Shindaeyang Paper Co., Ltd. will acquire 1.25 million shares. Shindaeyang Paper Co., Ltd. will pay KRW 25 billion on April 10, 2017 and balance KRW 6.75 billion on April 11, 2017 to acquire 0.79 million shares from Yeong Kwon. Shindaeyang Paper Co., Ltd. will pay KRW 18.135 billion to acquire 0.45 million shares from Kwon, Soonwoo and 8 others on April 11, 2017. Shindaeyang Paper Co., Ltd. will use retained funds and borrowing loans for the acquisition. The scheduled acquisition date is April 10, 2017. Daesung Accounting Corporation acted as external rating institution.
Shindaeyang Paper Co., Ltd. (KOSE:A016590) completed the acquisition of 46.4% stake in Daeyang Paper Mfg. Co., Ltd. (KOSDAQ:A006580) from a group of sellers on April 11, 2017.
DAEYANG PAPER MFG. CO., LTD. is a Korea-based company engaged in the manufacture and sale of corrugated cardboard materials. The Companyâs products include liner paper and core paper, which are mainly used in the packaging of electronics, food and agricultural products. In addition, through its subsidiary, the Company is engaged in the manufacture and sales of corrugated cardboard boxes and other byproducts.
DAEYANG PAPER MFG. CO., LTD. 
