Dongil Paper MFG. Co.,Ltd. and Tailim Packaging Co., Ltd. completed the sale of 57.95% stake in Tai Sung Industrial Company Ltd.
January 18, 2016
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Dongil Paper MFG. Co.,Ltd. (KOSE:A019300) and Tailim Packaging Co., Ltd. (KOSE:A011280) agreed to sell 57.95% stake in Tai Sung Industrial Company Ltd. for KRW 33.4 billion in cash on December 28, 2015. Dongil Paper will sell 0.1 million shares and Tailim Packaging will sell 0.13 million shares of Tai Sung Industrial. Tai Sung Industrial reported total assets of KRW 133.17 billion, total ownership interest of KRW 60.95 billion, sales of KRW 87.53 billion and net profit of KRW 905.82 million at the end of year 2014. On December 28, 2015, the transaction was resolved by the Board of Directors of Dongil Paper. The deal is expected to close on January 19, 2016. Ernst & Young Han Young acted as financial advisor and provided financial due diligence and accounting advisory services to Tailim Packaging.
Dongil Paper MFG. Co.,Ltd. (KOSE:A019300) and Tailim Packaging Co., Ltd. (KOSE:A011280) completed the sale of 57.95% stake in Tai Sung Industrial Company Ltd. on January 19, 2016.
Tailim Packaging Co., Ltd, formerly Tailim Packaging Industrial Co., Ltd., is a Korea-based company principally engaged in the manufacturing and sale of corrugated boxes. Along with its subsidiaries, the Company operates its business through three segments. Corrugated Boxes segment manufactures and sells boxes, materials and by-products. Corrugated Papers segment manufactures and sells test liner papers, corrugating medium papers and tube papers, also does waste disposal. Freight Transportation segment operates the transportation of goods. The Company distributes its products within domestic market and to overseas markets.
TAILIM PACKAGING CO., LTD. 
