Dongwha Enterprise Co.,Ltd acquired 89.6% stake in Panax E-Tec Co., Ltd. from Seven Bridges No. 1 PEF and Aston 2013 LLC for approximately KRW 120 billion.
July 11, 2019
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Dongwha Enterprise Co.,Ltd (KOSDAQ:A025900) acquired 89.6% stake in Panax E-Tec Co., Ltd. from Seven Bridges No. 1 PEF and Aston 2013 LLC for approximately KRW 120 billion on July 12, 2019. As per terms, 10.9 million shares will be acquired. The sellers will sell 0.6 million shares for KRW 6.7 billion and 10.2 million shares for KRW 111.3 billion respectively. For the year 2018, Panax E-Tec Co., Ltd. reported total assets of KRW 80.07 billion, total equity of KRW 45.95 billion, sales of KRW 53.39 billion and net income of KRW 2.66 billion. The Board of Directors of Dongwha Enterprise Co.,Ltd resolved the deal on July 12, 2019.
Dongwha Enterprise Co.,Ltd (KOSDAQ:A025900) completed the acquisition of 89.6% stake in Panax E-Tec Co., Ltd. from from Seven Bridges No. 1 PEF and Aston 2013 LLC on July 12, 2019.
DONGWHA ENTERPRISE CO.,LTD. is a Korea-based holding company engaged in the management of its subsidiaries. Through its subsidiaries, the Company operates in three businesses: materials business, which mainly engages in the manufacture of floor boards; housing business, which mainly engages in the provision of laminate floors, construction services and design services, and car life business, which engages in the sales of used cars, as well as leasing of non-residential buildings. On July 1, 2014, it merged with wholly owned subsidiary, WON CHANG TRADING.CO., LTD, engaged in the leasing business.
Dongwha Enterprise Co.,Ltd acquired 89.6% stake in Panax E-Tec Co., Ltd. from Seven Bridges No. 1 PEF and Aston 2013 LLC for approximately KRW 120 billion.
DONGWHA ENTERPRISE CO.,LTD 
