이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Hahn & Co. concludes SsangYong Remicon deal
- Collected
- 2023.09.27
- Distributed
- 2023.09.28
- Source
- Go Direct
According to sources in the investment banking industry on Tuesday, Korea’s leading cement company, SsangYong C&E, will transfer 79 percent of the shares of SsangYong Remicon and related real estate to Jangwon Remicon, a subsidiary of Jungsun Aggregate Group, with an aim to conclude the this month.
The move follows the signing of a share purchase agreement (SPA) in July.
SsangYong Remicon is a specialized ready-mixed concrete manufacturer that achieved a groundbreaking industry milestone in 2007 by surpassing cumulative shipments of 1.5 billion cubic meters of concrete.
The transaction structure involves SsangYong C&E transferring ownership of the factories and real estate to SsangYong Remicon, with a time lag, as previously agreed.
On Monday, SsangYong C&E transferred 13.06 million shares of SsangYong Remicon to Jangwon Remicon. The shares were sold for 172.1 billion won. SsangYong C&E also disposed of its real estate and factories for 205 billion won on the same day.
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]