Moorim Paper Co., Ltd. acquired an additional 9.37% stake in Moorim P&P Co., Ltd. for KRW 69.9 billion.
June 27, 2014 at 12:00 am EDT
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Moorim Paper Co., Ltd. (KOSE:A009200) acquired an additional 9.37% stake in Moorim P&P Co., Ltd. (KOSE:A009580) for KRW 69.9 billion on June 27, 2014. Under the terms of the agreement, Moorim Paper acquired 5.84 million shares of Moorim P&P. With the effect of this transaction, Moorim Paper now holds 64.36% stake in Moorim P&P. This is a cash acquisition through exercise of call option.
Moorim Paper Co., Ltd. (KOSE:A009200) completed the acquisition of an additional 9.37% stake in Moorim P&P Co., Ltd. (KOSE:A009580) on June 27, 2014.
MOORIM P&P CO., LTD. is a Korea-based company mainly engaged in the manufacture and distribution of bleached chemical pulps. The Company operates its business through two divisions: paper manufacturing division and pulps division. Its paper manufacturing division is engaged in the manufacture of paper products for printing, such as two side coated paper, one side coated paper and paper boards. Its pulps division is involved in the manufacture of pulp products, such as general pulps, chemical wood pulps, mechanical wood pulps, semi-chemical wood pulps, sulfurous acid pulps, fibrous cellulosic pulps and others. The Company distributes its products within domestic market and to overseas markets.
MOORIM P&P CO., LTD. 
