DRB Holding Co., Ltd. acquired an additional 5.59% stake in DRB Industrial Co., Ltd from Hyo-in Seong and other sellers for KRW 4.5 billion.
December 19, 2012 at 11:00 pm EST
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DRB Holding Co., Ltd. (KOSE:A004840) made a tender offer to acquire an additional 10.28% stake in DRB Industrial Co., Ltd (KOSE:A163560) from Hyo-in Seong and other sellers for KRW 8.3 billion on November 23, 2012. DRB Holding Co., Ltd. will acquire 1.1 million shares at the price of KRW 7,500 per share. HI Investment & Securities Co., Ltd. acted as broker for DRB Holding Co., Ltd.
DRB Holding Co., Ltd. (KOSE:A004840) completed the acquisition of an additional 5.59% stake in DRB Industrial Co., Ltd (KOSE:A163560) from Hyo-in Seong and other sellers for KRW 4.5 billion on December 14, 2012. DRB Holding Co., Ltd. acquired 0.6 million shares at the price of KRW 7,500 per share and increase its holding to 1.17 million shares in DRB Industrial. Hyo-in Seong sold all of his 0.55 million shares in DRB Holding Co., Ltd.
DRB Industrial Co., Ltd. is a Korea-based company engaged in the manufacture and sale of industrial rubber products. The Companyâs products consist of power transmission belts used for automotive, home and office appliances and equipment, chemicals and other industries; rubber track used as wheel part of agricultural and construction machines; undercarriage systems used in construction and agriculture industries; conveyor belts and systems, as well as others. The Company distributes its products within domestic market and to overseas markets, including the Americas, Japan and others.
DRB INDUSTRIAL CO., LTD. 
