GAON Cable Co., Ltd. completed the acquisition of an additional 54.2% stake in MOBO Co., Ltd. from LS Cable & System Ltd.
August 30, 2013 at 12:00 am EDT
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GAON Cable Co., Ltd. (KOSE:A000500) agreed to acquire an additional 54.2% stake in MOBO Co., Ltd. from LS Cable & System Ltd. for KRW 8 billion on August 20, 2013. GAON Cable will acquire 13.8 million shares of MOBO Co. at KRW 580 per share. On completion, GAON Cable Co., Ltd. will hold 90.3% stake. The transaction is resolved by Board of Directors of LS Cable & System Ltd. on August 20, 2013. The transaction is expected to be completed on August 21, 2013.
GAON Cable Co., Ltd. (KOSE:A000500) completed the acquisition of an additional 54.2% stake in MOBO Co., Ltd. from LS Cable & System Ltd. on August 30, 2013.
GAON CABLE CO., LTD is a Korea-based company mainly engaged in the manufacture of electrical cables and telecommunications cables. The Companyâs electrical cables consist of power cables, bare wires, insulated wires and control cables mainly used to transmit electric energy. Its telecommunication cables used to transmit information between modes in network. It also provides optical fiber cables, including loose tube jelly filled cores, loose tube dry cores, ribbon tube dry cores, break out optical cables and distribution optical cables. The Company distributes its product within domestic market and to overseas markets, including America, France, Singapore, Japan, Australia, Bangladesh and others.
GAON CABLE CO., LTD. 
