DS Holdings Co., Ltd., Korea Display Co., Ltd., Troy Union, GY Invest Co., Ltd, Moonwoo Co., Ltd. and Ga-won Kim signed a contract to acquire a 44.6% stake in Willings Co., Ltd. from Kang-soon Ahn and Mi-ran Yoon for KRW 45.5 billion.
December 27, 2021
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DS Holdings Co., Ltd., Korea Display Co., Ltd., Troy Union, GY Invest Co., Ltd, Moonwoo Co., Ltd. and Ga-won Kim signed a contract to acquire a 44.6% stake in Willings Co., Ltd. (KOSDAQ:A313760) from Kang-soon Ahn and Mi-ran Yoon for KRW 45.5 billion on December 27, 2021. Under the terms of transaction, 2.2 million shares will be acquired at KRW 21,000 per share. As per the revised update on March 4, 2022, 1.4 million share will be acquired, representing 28.14% for KRW 28.7 billion.
The deal is expected to be completed by January 25, 2022. The transaction is expected to close on March 28, 2022. and payment will be made on March 22, 2022.
WILLINGS CO., LTD. is a Korea-based company mainly engaged in renewable energy business. The Company operates its business through two segments. The Renewable Energy segment manufactures and sells photovoltaic power generation systems and energy storage system (ESS), and also conducts EPC projects that provide engineering, procurement, and construction services. The Power Solution segment manufactures and sells induction heating inverters, power converters for ship water treatment, and water purifier power control devices.
DS Holdings Co., Ltd., Korea Display Co., Ltd., Troy Union, GY Invest Co., Ltd, Moonwoo Co., Ltd. and Ga-won Kim signed a contract to acquire a 44.6% stake in Willings Co., Ltd. from Kang-soon Ahn and Mi-ran Yoon for KRW 45.5 billion.