An unknown buyer acquired 50% stake in Nong Shim Communications Co., Ltd. from NongShim Holdings Co.,Ltd..
August 20, 2013 at 12:00 am EDT
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An unknown buyer acquired 50% stake in Nong Shim Communications Co., Ltd. from NongShim Holdings Co.,Ltd. (KOSE:A072710) on August 20, 2013. Nong Shim Communications recorded revenues of KRW 22.26 billion, total assets of KRW 27 billion, net income of KRW 859.11 million and net assets of KRW 8.13 billion for the year ended December 31, 2012.
An unknown buyer completed the acquisition of 50% stake in Nong Shim Communications Co., Ltd. from NongShim Holdings Co.,Ltd. (KOSE:A072710) on August 20, 2013.
Nongshim Holdings is a Korean holding company engaged in the management of subsidiaries. The Company's subsidiaries are NONGSHIM CO.,LTD, engaged in the manufacture and marketing of instant noodles and snacks; YOULCHON CHEMICAL CO.,LTD, engaged in the manufacture of flexible packaging materials, film products, corrugated boards and others; TAE KYUNG NONG SAN CO.,LTD, engaged in the processing of agricultural and seafood products, which are used as soup materials for instant noodles; Nong Shim Communications, engaged in the advertising business; Nong Shim Engineering co., Ltd., engaged in manufacture of industrial machines, nongshim development, engaged in the operation of sports facilities. On August 20, 2013, it decreased its holdings in a 50%-owned subsidiary, NONGSHIM COMMUNICATIONS CO.,LTD. to 0.7%. After that, the Company still holds a certain shares of NONGSHIM COMMUNICATIONS CO.,LTD.
NONGSHIM HOLDINGS CO.,LTD. 
