HDC HOLDINGS CO.,Ltd agreed to acquire 85.624542% stake in Tong-Yeoung Eco Power Co., Ltd. for KRW 233.755 billion.
October 07, 2021
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HDC HOLDINGS CO.,Ltd (KOSE:A012630) agreed to acquire 85.624542% stake in Tongyeong Eco Power Corporation for KRW 233.755 billion on October 8, 2021. HDC HOLDINGS will acquire 46.751 million shares of Tongyeong Eco Power Corporation. For the year 2020, Tongyeong Eco Power Corporation reported total assets of KRW 157.968 billion, total debt of 155.911 billion, total equity of 2.057 billion, net loss of KRW 758.456495 million.
The transaction is expected to close in October, 2021 and October, 2022. And it is scheduled to be acquired twice.
HDC Holdings Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of chemical products. The Company operates its business through six segments. The Construction segment is involved in the construction of residential buildings, public institutions and private companies, social infrastructures such as roads, harbors and railroads. The Petrochemical segment is involved in the production and sale of chemical products such as industrial pipes, packaging materials for food and life, as well as construction materials. The Musical Instrument segment produces and sells musical instruments such as pianos. The Distribution segment is involved in the operation of department stores and complex shopping malls, as well as real estate leasing. The Holding segment is engaged in the businesses of management consulting and building rental. The Other segment is engaged in building management, the operation of hotels and professional soccer show business.
HDC HOLDINGS CO.,LTD 
