INSUN Environmental New Technology Co., Ltd. cancelled the acquisition of additional 14% stake in Insun Motors Co., Ltd.
February 25, 2020
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INSUN Environmental New Technology Co., Ltd. (KOSDAQ:A060150) agreed to acquire the additional 14% stake in Insun Motors Co., Ltd. for KRW 11 billion on February 26, 2019. Under the terms, INSUN Environmental New Technology Co., Ltd. will acquire 0.21 million shares. The consideration will be paid in cash. Following completion, INSUN Environmental New Technology Co., Ltd. will hold 1.4 million shares, representing 96.48% stake in Insun Motors Co., Ltd. The transaction was resolved by the Board of Directors of INSUN Environmental New Technology Co., Ltd. on February 26, 2019 and is expected to close on February 28, 2019.
INSUN Environmental New Technology Co., Ltd. (KOSDAQ:A060150) cancelled the acquisition of additional 14% stake in Insun Motors Co., Ltd. on February 26, 2020.
INSUN Environmental New Technology Co., Ltd. is a Korea-based company engaged in the environmental engineering business. The Company's principal activities include intermediate treatment of construction waste, reclamation and incineration of waste, the demolition of scaffoldings and structures, the production of recycled aggregates from construction waste; the distribution of diesel oil and gasoline, as well as vehicle disassembly and recycling. It also engages in the cold-mix recycled asphalt concrete production, incineration, asbestos waste management, new and renewable energy and landfilling businesses. On March 28, 2014, the Company completed the establishment of two wholly-owned subsidiaries namely Insung Industry Co., Ltd and INSUNMOTORS.
INSUN ENVIRONMENTAL NEW TECHNOLOGY CO., LTD. 
