Yesco Co., Ltd. agreed to acquire 48% stake in Onsan Tank Terminal Co., Ltd. from Yesco Holdings Co., Ltd. for KRW 15.6 billion.
June 24, 2018
Share
Yesco Co., Ltd. agreed to acquire 48% stake in Onsan Tank Terminal Co., Ltd. from Yesco Holdings Co., Ltd. (KOSE:A015360) for KRW 15.6 billion on June 25, 2018. Under the terms of the acquisition, 2.9 million shares will be acquired at KRW 5467 per share and the consideration will be received by July 18, 2018. The consideration is paid on August 29, 2018 as per amendment report on August 29, 2018. Upon completion, Yesco Holdings Co., Ltd. will not hold any stake in Onsan Tank Terminal Co., Ltd. The Board of Directors of Yesco Co., Ltd. passed a resolution on the transaction on June 25, 2018.
Yesco Holdings Co., Ltd., formerly YESCO CO.,LTD., is a Korea-based company mainly engaged in the provision of city natural gas. The Company operates its business through five divisions: city gas division, which provides liquefied natural gas (LNG) and compressed natural gas (CNG), as well as gas meters and gas piping works; construction and precast concrete (PC) division, which engages in the construction materials manufacturing, civil engineering construction and housing rental and sale business; flange division, which produces wood drums and other electrical cable packaging supplies; television (TV) division, which mainly manufactures digital TV cases and vibration motors, and other division, which provides automobile internal materials and others.
YESCO HOLDINGS CO., LTD. 