Daelim Paper Co., Ltd. cancelled the acquisition of Dongjin Paper Board Co., Ltd. from Sambo Corrugated Board Co., Ltd..
April 27, 2018
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Daelim Paper Co., Ltd. (KOSDAQ:A017650) agreed to acquire Dongjin Paper Board Co., Ltd. from Sambo Corrugated Board Co., Ltd. (KOSDAQ:A023600) for KRW 12.7 billion on April 28, 2017. Daelim Paper Co., Ltd will acquire 0.6 million shares of Dongjin Paper Board Co., Ltd. In a related transaction, Sambo Corrugated Board Co. agreed to acquire a 24.25% stake in Korea Paper Mfg. Co. from Daelim Paper Co. for KRW 12.7 billion. The payment for the acquisition of Dongjin Paper Board Co. will be set-off against the consideration for the acquisition of the stake in Korea Paper Mfg. Co. and the said payment will be made on June 12, 2017. The Board of Directors of Daelim Paper Co. passed a unanimous resolution regarding the transaction on April 28, 2017. On June 12, 2017, the shareholders' of Daelim Paper Co., Ltd approved the transaction. PricewaterhouseCoopers Korea acted as an external rating institution in the transaction.
Daelim Paper Co., Ltd. (KOSDAQ:A017650) cancelled the acquisition of Dongjin Paper Board Co., Ltd. from Sambo Corrugated Board Co., Ltd. (KOSDAQ:A023600) on April 28, 2018.
SAMBO CORRUGATED BOARD Co.,Ltd. is a Korea-based company engaged in the manufacture of corrugated cardboards and corrugated cardboard boxes. The Companyâs corrugated cardboards and corrugated cardboard boxes are used in packaging food, pharmaceutical, marine products, agricultural products and others. It mainly distributes its products within domestic market. It also involves in the provision of corrugated fiberboards. The Companyâs customers include JINRO LIMITED, E-MART Inc., and CJ CHEILJEDANG CORP., among others.
SAMBO CORRUGATED BOARD CO., LTD. 
