KCC Engineering & Construction Co., Ltd. agreed to acquire 17.3% stake in Blue Island Development Co. Ltd. for KRW 19.3 billion.
May 17, 2016
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KCC Engineering & Construction Co., Ltd. (KOSDAQ:A021320) agreed to acquire an additional 7.43% stake in Blue Island Development Co. Ltd. for KRW 19.3 billion on May 18, 2016. Under the terms of the agreement, KCC will acquire 1.8 million shares. As on December 31, 2015, Blue Island Development Co. had total assets of KRW 280.71 billion and net liabilities of KRW 116.98 billion. For the year ended December 31, 2015, Blue Island Development Co. Ltd. had revenue of KRW 20.86 billion and net loss of KRW 22.62 billion. The transaction is expected to complete on May 19, 2016.
KCC ENGINEERING & CONSTRUCTION CO., LTD. is a Korea-based company engaged in the construction and engineering business. The Company operates its business through four segments: civil engineering segment, architecture segment, presale construction segment and steel structures segment. Its civil engineering segment constructs expressways, railways, roads, bridges, tunnels, harbors, reclamation works, site renovation works, as well as the water supply and sewerage systems. Its architecture segment engages in the construction of commercial buildings, office buildings, residential buildings, factories, plants and others. Its presale construction segment constructs and markets apartment and residential complexes. Its steel structures segment constructs steel frames for buildings and steel bridges.
KCC ENGINEERING & CONSTRUCTION CO., LTD. 
