An undisclosed buyer acquired an unknown minority stake in Kodo Inc. from Sajodongaone Co.,Ltd. for KRW 10.5 billion.
October 30, 2017
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An undisclosed buyer has agreed to acquire 28.7% stake in Kodo Inc. from Sajodongaone Co.,Ltd. (KOSE:A008040) for KRW 14.7 billion on August 18, 2017. In 2016, Kodo Inc. had total assets of KRW 120.07 billion, net profit of KRW 26 billion, total common equity of KRW 57.3 billion and net loss of KRW 3.6 billion. The board resolved the transaction on August 18, 2017. The transaction is expected to close on September 30, 2017.
An undisclosed buyer completed the acquisition of an unknown minority stake in Kodo Inc. from Sajodongaone Co.,Ltd. (KOSE:A008040) for KRW 10.5 billion on October 31, 2017. As the buyer was not able to fulfill the total amount of KRW 14.69 billon so Sajodongaone Co.,Ltd. closed the acquisition by selling KRW 10.50 value of stake and has signed a new agreement with a new buyer to sell the remaining stake amounting KRW 4.19 billion from the total amount on October 31, 2017.
SAJODONGAONE CO.,LTD, formerly DONGAONE CO.,LTD. is a Korea-based company mainly engaged in the manufacture of flour products and animal feeds. Its flour products business produces premium flours, all-purpose flours, cake flours, bread flours, organic flours, whole wheat flours, Woorimil flours, fiber sun flours, buckwheat flours and others. Its animal feeds business provides feeds for chickens, pigs, cattle, dogs, cats and fish. Through its subsidiaries, it also engages in the import and sale of cars under the brand name Ferarri and Maserati; grain business; development of overseas agricultural products, and manufacture of wines and others.
SAJODONGAONE CO.,LTD 
