Dongwha Enterprise Co., Ltd. agreed to acquire TaeYang Chemical Co. Ltd from Jungsub Lee, Jungsoo Lee, Jungo Lee and Bokja Park for KRW 40.5 billion.
April 13, 2017
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Dongwha Enterprise Co., Ltd. (KOSDAQ:A025900) agreed to acquire TaeYang Chemical Co. Ltd from Jungsub Lee, Jungsoo Lee, Jungo Lee and Bokja Park for KRW 40.5 billion on April 14, 2017. Dongwha Enterprise will acquire 0.07 million shares of TaeYang Chemical in cash. The balance payment date is April 20, 2017 and it may change upon its progress. After the transaction, Dongwha Enterprise Co., Ltd will hold 100% stake in TaeYang Chemical Co. Ltd. TaeYang Chemical Co. Ltd reported total assets of KRW 42.12 billion, sales of KRW 33.77 billion and net profit of KRW 3.9 billion in 2016. The Board of Directors passed a resolution for the transaction on April 14, 2017. KPMG acted as a financial advisor to the sellers.
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 
