An unknown buyer entered into an agreement to acquire 50% stake in NOROO Resin & Coating Specialties Co., Ltd from NOROO Holdings Co., Ltd..
August 19, 2020
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An unknown buyer entered into an agreement to acquire 50% stake in NOROO Resin & Coating Specialties Co., Ltd from NOROO Holdings Co., Ltd. (KOSE:A000320) for KRW on August 20, 2020. Under the terms, 0.2 million shares will be acquired as a part of the transaction. NOROO Resin reported total assets of KRW 15.1 billion and total common equity of KRW 4.8 billion for the year ended December 2019. The transaction is expected to close on August 27, 2020.
NOROO HOLDINGS CO., LTD. is a Korea-based holding company engaged in the management of its subsidiaries. The Companyâs main subsidiaries consist of NOROO PAINT CO., LTD., which is engaged in the manufacturing of industrial coatings; NOROO Chemicals Co., Ltd., which is engaged in the manufacturing of construction coatings, unsaturated polyester resins (UPRs) and others; NOROO Automotive Coatings Co., Ltd., which is engaged in the manufacturing of automobile coatings and others; IPK CO., LTD., which is engaged in the manufacturing of paints for vessels and heavy-duty purposes; NOROO Bee Chemical Co., Ltd., which is engaged in the manufacture of plastic paints for motors or home appliances, among others. On January 15, 2014, the Company acquired a 100% stake in NOROO KIBAN CO., LTD., engaged in the processing, distributing and sale of agricultural products.
NOROO HOLDINGS CO., LTD. 