MH Ethanol Co., Ltd. completed the sale of an 80% stake in CJ Cambodia Co., Ltd.
March 20, 2014 at 12:00 am EDT
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MH Ethanol Co., Ltd. (KOSE:A023150) agreed to sell an 80% stake in CJ Cambodia Co., Ltd. for KRW 12.8 billion on January 21, 2014. MH Ethanol Co. will sell 1.89 million shares and approximately 0.47 million preferred shares, thereby reducing its holding to a 20% stake. A deposit of 10% and balance of 90% will be received on January 21, 2014 and March 20, 2014 respectively. The buyer will purchase the remaining stake from MH Ethanol Co. after five years of completion of the transaction. The Board of Directors of MH Ethanol Co. made a resolution in favor of the transaction on January 21, 2014. The transaction is expected to close on March 20, 2014.
MH Ethanol Co., Ltd. (KOSE:A023150) completed the sale of an 80% stake in CJ Cambodia Co., Ltd. on March 20, 2014.
MH ETHANOL CO., LTD. is a Korea-based company mainly engaged in the manufacture and distribution of alcoholics. The Company produces fermented alcoholics and refined alcoholics, which are used for making distilled spirits. It is also engaged in the production of bio-ethanol and alcohols used for fuels through its subsidiary MH Bio Energy, and tapioca chips and roots used for bio-ethanol manufacturing through its subsidiary CJ Cambodia. The Company also involves in the distillation machinery and facility manufacturing through its affiliated company MH Bio-Tech. In addition, it involves in the real estate rental business. The Company distributes its products within domestic market and to overseas market.
MH ETHANOL CO.,LTD. 
