Sam Kwang Glass Co., Ltd. acquired the remaining 65.7% stake in SG Development Co., Ltd. for KRW 37.5 billion.
November 05, 2020
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Sam Kwang Glass Co., Ltd. (KOSE:A005090) acquired the remaining 65.7% stake in SG Development Co., Ltd. from eTEC E&C Limited (KOSDAQ:A016250) and Gunjang Energy Co., Ltd. for KRW 37.5 billion on November 2, 2020. As part of the transaction Sam Kwang acquired 7.49 million shares for KRW 5,000 per share. eTEC E&C sold 4.09 million shares and Gunjang Energy sold 3.4 million shares. Post the transaction, Sam Kwang holds 100% stake and, eTEC E&C and Gunjang Energy does not hold any stake in SG Development.
Sam Kwang Glass Co., Ltd. (KOSE:A005090) completed the acquisition of remaining 65.7% stake in SG Development Co., Ltd. from eTEC E&C Limited (KOSDAQ:A016250) and Gunjang Energy Co., Ltd. on November 2, 2020.
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.
SGC E&C CO., LTD. 
