Ecoenergy Holdings Co., Ltd. cancelled the acquisition of 16.1% stake in Green Energy Development Co., Ltd.
November 01, 2016
Share
Ecoenergy Holdings Co., Ltd. (KOSDAQ:A038870) agreed to acquire 16.1% stake in Green Energy Development Co., Ltd for approximately KRW 680 million in cash on November 2, 2015. Ecoenergy Holdings will acquire 0.05 million shares of Green Energy Development Co., Ltd. Green Energy Development Co., Ltd reported total assets of KRW 5.54 billion, total liabilities of KRW 3.24 billion, total capital of KRW 2.31 billion, revenues of KRW 28.03 billion and net profit of KRW 595 million in 2014. The Board of Directors of Ecoenergy Holdings passed a resolution for the transaction on November 2, 2015. The transaction is expected to complete on November 10, 2015.
Ecoenergy Holdings Co., Ltd. (KOSDAQ:A038870) cancelled the acquisition of 16.1% stake in Green Energy Development Co., Ltd on November 2, 2016.
EcoBio Holdings Co., Ltd. formerly Ecoenergy Holdings Co., Ltd. is a Korea-based company engaged in the renewable energy business together with its subsidiaries. The Companyâs business scope includes electric power, bio gases, as well as construction and maintenance of new and renewable energy facilities. The Company operates landfill sites for power generation and sewage treatment facilities for the production and supply of bio gases.