Doosan Heavy Industries & Construction Co., Ltd., Doosan Corporation, Doosan Infracore Co. Ltd., Oricom Inc. and Doosan Engine Co., Ltd. agreed to acquire 77.78% stake in Doosan Cuvex Co., Ltd. from Doosan Engineering & Construction Co., Ltd. for approximately KRW 110 billion.
March 24, 2016
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Doosan Heavy Industries & Construction Co., Ltd. (KOSE:A034020), Doosan Corporation (KOSE:A000150), Doosan Infracore Co. Ltd. (KOSE:A042670), Oricom Inc. (KOSDAQ:A010470) and Doosan Engine Co., Ltd. (KOSE:A082740) agreed to acquire 77.78% stake in Doosan Cuvex Co., Ltd. from Doosan Engineering & Construction Co., Ltd. (KOSE:A011160) for approximately KRW 110 billion on March 25, 2016. As part of the transaction, Doosan Engineering & Construction Co., Ltd. agreed to sell its 77.78% stake for KRW 23,133 per share retaining 22.22% stake after the transaction.
ORICOM INC. is a Korea-based company mainly engaged in the advertising business. The Company operates its business in two segments: advertisement segment and magazine segment. Its advertisement segment is mainly engaged in the provision of integrated advertising services such as advertisement creations, advertising agents, promotion services, below the line (BTL) services and others, including brand consulting services, media services, account services, Internet marketing communication services and others. Its magazine segment is mainly engaged in the publishing of magazines, such as Vogue, GQ, Vogue-girl, Allure, W and others. The Company distributes its products within domestic market and to overseas markets.
Doosan Heavy Industries & Construction Co., Ltd., Doosan Corporation, Doosan Infracore Co. Ltd., Oricom Inc. and Doosan Engine Co., Ltd. agreed to acquire 77.78% stake in Doosan Cuvex Co., Ltd. from Doosan Engineering & Construction Co., Ltd. for approximately KRW 110 billion.
ORICOM INC. 
