LK Investment Partners agreed to acquire 18.9% stake in Kukdong Oil & Chemicals Co.,Ltd from Ibest Investment Company Ltd, I Best Development Co., Ltd, Han, Bumhee, Seo, Miae, Han, Jiyoon and Han, Byungchang for KRW 22.7 billion.
December 25, 2017
Share
LK Investment Partners agreed to acquire 18.9% stake in Kukdong Oil & Chemicals Co.,Ltd (KOSE:A014530) from Ibest Investment Company Ltd, I Best Development Co., Ltd, Han, Bumhee, Seo, Miae, Han, Jiyoon and Han, Byungchang for KRW 22.7 billion on December 26, 2017. LK Investment Partners will acquire 6.59 million shares at the price of KRW 3,450 per share. Ibest Investment Company Ltd will sell 3.33 million shares, I Best Development Co., Ltd will sell 0.43 million shares, Han, Bumhee will sell 1 million shares, Seo, Miae will sell 0.82 million shares, Han, Jiyoon will sell 0.51 million shares and Han, Byungchang will sell 0.51 million shares in Kukdong Oil & Chemicals Co.,Ltd. The down payment is scheduled to be paid on the contract date, and the balance will be paid before January 31, 2018. The stock will be transferred when the balance is paid.
Kukdong Oil & Chemicals Co.,Ltd is a Korea-based company mainly engaged in the manufacturing of lubricants, waterproofing sheets, liquefied petroleum gas (LPG) and asphalt products. The lubricants include industrial lubricants, metal working fluid, process oil, liquid paraffin, greases and paraffin waxes used for industrial machines, cosmetics, pharmaceuticals, rubber mixture and others. The waterproofing sheets are mainly used in construction sector. The LPG is used for heating systems and automobiles. The asphalt products are used in construction and automobiles. The Company distributes its products within domestic market and to overseas markets.
LK Investment Partners agreed to acquire 18.9% stake in Kukdong Oil & Chemicals Co.,Ltd from Ibest Investment Company Ltd, I Best Development Co., Ltd, Han, Bumhee, Seo, Miae, Han, Jiyoon and Han, Byungchang for KRW 22.7 billion.