Kim, Myungsoon, Prime Fund 2 and ICEPIPE Corporation signed a contract to acquire 36.8% stake in Hansol SeenTec Co., Ltd from Hansol Holdings Co., Ltd. for KRW 20 billion.
April 15, 2018
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Kim, Myungsoon, Prime Fund 2 and ICEPIPE Corporation signed a contract to acquire 36.8% stake in Hansol SeenTec Co., Ltd (KOSDAQ:A099660) from Hansol Holdings Co., Ltd. (KOSE:A004150) for KRW 20 billion on April 16, 2018. Under the terms, Kim, Myungsoon, Prime Fund 2 and ICEPIPE Corporation will acquire 23.5 million shares at KRW 850 per share. Kim, Myungsoon will pay KRW 9 billion for acquiring 10.5 million shares (16.55%) in which first payment of KRW 2 billion paid on April 16, 2018 and remaining balance of KRW 7 billion will be paid on April 23, 2018. Prime Fund 2 pay KRW 8 billion for acquiring 9.41 million shares and ICEPIPE Corporation pay KRW 3 billion for acquiring 3.53 million shares on April 16, 2018. Post transaction, Hansol Holdings will not own any stake in Hansol SeenTec. The transaction is resolved by the Board of Hansol Holdings on April 16, 2018. The transaction is expected to complete on April 17, 2018.
Hansol Holdings Co., Ltd., formerly HANSOL PAPER Co., Ltd, is a Korea-based holding company engaged in the management of its subsidiaries. Along with its subsidiaries, the Company mainly manufactures printing papers, including white paper and art paper for printing of general printings, and industrial paper, such as paperboards and special paper, including thermal paper, pressure sensitive paper, fancy paper and inkjet paper. In addition, it is involved in the manufacture of corrugated fiberboards, distribution of paper, as well as operation of resorts with golf courses and skiing facilities. The Company distributes its products within domestic market and to overseas markets.
Kim, Myungsoon, Prime Fund 2 and ICEPIPE Corporation signed a contract to acquire 36.8% stake in Hansol SeenTec Co., Ltd from Hansol Holdings Co., Ltd. for KRW 20 billion.