Lee Ku Industrial Co.,Ltd. cancelled the sale of 20.01% stake in Kukil Metal Co., Ltd.
November 27, 2014 at 11:00 pm EST
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Lee Ku Industrial Co.,Ltd. (KOSE:A025820) agreed to sell 20.01% stake in Kukil Metal Co., Ltd. for KRW 6.3 billion on November 28, 2013. Lee Ku Industrial will sell 1.601 million shares at the price of KRW 3,932 per share and will reduce its holding to 1.599 million shares in Kukil Metal Co., Ltd. Board of Directors of Lee Ku Industrial made a resolution in favor of the transaction on November 28, 2013. The transaction is expected to close on December 20, 2013.
Lee Ku Industrial Co.,Ltd. (KOSE:A025820) cancelled the sale of 20.01% stake in Kukil Metal Co., Ltd. on November 28, 2014.
KUKIL METAL CO., LTD. is a Korea-based company principally engaged in the processing and manufacturing of brass bars. The Companyâ main products are brass bars, which are used for automobiles, valves, faucet hard wares, and communication component processing materials. The Company also provides bronze alloy coils, which are used for connectors, lead frames, radiator panels and other materials, as well as copper anode balls, which are used for printed circuit board (PCB) plating. In addition, the Company involves in the processing of brass bars, copper billets and others.