Macquarie Korea Opportunities Fund of Macquarie Korea Opportunities Management Limited completed the acquisition of 74.8% stake in Daejeon Cogeneration Plant Co., Ltd. from Chosun Refractories Co. Ltd..
May 26, 2015
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Macquarie Korea Opportunities Fund of Macquarie Korea Opportunities Management Limited agreed to acquire 74.8% stake in Daejeon Cogeneration Plant Co., Ltd. from Chosun Refractories Co. Ltd. (KOSE:A000480) for KRW 37.4 billion on April 2, 2015. Chosun Refractories Co. Ltd. to sell 2.8 million shares at KRW 0.01 million per share and will hold no stake in Daejeon Cogeneration Plant Co., Ltd after the completion of the transaction. The contract will be cancelled if the transaction is not completed by May 31, 2015. Chosun Refractories Co. Ltd.'s Board of Directors decided on selling its stake in Daejeon Cogeneration Plant Co., Ltd. and the formal contract is to be signed within twenty working days after meeting transactions end conditions/ prerequisites or on May 31, 2015. Transaction is expected to be completed by April 30, 2015. As of April 30, 2015, the scheduled date of sale was changed to May 31, 2015. KPMG acted as financial advisor for Chosun Refractories. Macquarie Capital acted as financial advisor in the transaction.
Macquarie Korea Opportunities Fund of Macquarie Korea Opportunities Management Limited completed the acquisition of 74.8% stake in Daejeon Cogeneration Plant Co., Ltd. from Chosun Refractories Co. Ltd. (KOSE:A000480) on May 27, 2015.
CR Holdings Co Ltd, formerly Chosun Refractories Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of refractory materials. The Company operates its business through four segments. The Refractory Manufacturing segment is engaged in the manufacture and sale of unburned bricks, fused bricks, irregular shape refractory products as well as others. The Machine Part Manufacturing segment is engaged in the manufacture and sale of automobile engine parts, transmissions parts, refrigerator compressor parts, heavy equipment parts and others. The Golf Course segment is engaged in the membership golf course operation business. The Other segment is engaged in the business support business.
Macquarie Korea Opportunities Fund of Macquarie Korea Opportunities Management Limited completed the acquisition of 74.8% stake in Daejeon Cogeneration Plant Co., Ltd. from Chosun Refractories Co. Ltd..
CR HOLDINGS CO., LTD. 
