Dongil Paper MFG. Co.,Ltd. and Tailim Packaging Industrial Co., Ltd. cancelled the sale of 50% stake in J. Tausend Inc.
May 07, 2016
Share
Dongil Paper MFG. Co.,Ltd. (KOSE:A019300) and Tailim Packaging Industrial Co., Ltd. (KOSE:A011280) signed a definitive agreement to sell 50% stake in J. Tausend Inc. for KRW 41.8 billion on May 8, 2015. Dongil Paper MFG and Tailim Packaging Industrial will each sell 4.5 million shares of J. Tausend. In a related deal, IMM Rose Gold Private Equity Fund II, a fund of IMM Private Equity, Inc. signed a definitive agreement to acquire 58.85% stake in Tailim Packaging Industrial Co., Ltd. (KOSE:A011280) from Jung, Dong-Sup and 8 other individuals on May 4, 2015. The share transaction amount and share transfer completion period is the completion period of several condition precedent of completion of related equity transaction of IMM Private Equity, Inc. Tailim Packaging Industrial will disclose once the transaction scheduled date is confirmed. The transaction is expected to complete on July 9, 2015.
Dongil Paper MFG. Co.,Ltd. (KOSE:A019300) and Tailim Packaging Industrial Co., Ltd. (KOSE:A011280) cancelled the sale of 50% stake in J. Tausend Inc. on May 8, 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. 
