ETEC E&C Limited completed the acquisition of an additional 11.32% stake in SG Development Co., Ltd from Sam Kwang Glass Co., Ltd..
May 08, 2018
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eTEC E&C Limited (KOSDAQ:A016250) agreed to acquire additional 11.32% stake in Sg Development Co.,Ltd from Sam Kwang Glass Co., Ltd. (KOSE:A005090) for KRW 10.1 billion on May 3, 2018. Under the terms, eTEC E&C Limited will acquire 1.29 million shares at KRW 7,796 per share. Post acquisition, eTEC E&C Limited will hold 4.1 million shares (35.9%) in Sg Development Co.,Ltd and Sam Kwang Glass will own 34.3% stake. The transaction has been resolved by the Board of Directors of eTEC E&C Limited on May 3, 2018. The transaction is expected to be completed on May 9, 2018.
eTEC E&C Limited (KOSDAQ:A016250) completed the acquisition of an additional 11.32% stake in Sg Development Co.,Ltd from Sam Kwang Glass Co., Ltd. (KOSE:A005090) on May 9, 2018.
SGC E&C Co Ltd, formerly SGC eTEC E&C Co Ltd, is a Korea-based company mainly engaged in the construction business. The Company operates its business through four segments. The Plant Business segment provides construction and engineering services in related fields such as new and renewable energy, petrochemicals, fine chemistry, liquid crystal display (LCD) and semiconductor materials, power generation and energy. The Civil Engineering segment engages in construction works such as civil and non-residential buildings, apartment houses, and factory buildings, and the development of real estates. The Terminal Business segment engages in the rental of cargo terminals and the sale of petroleum. The Other segment provides management support for business operations.