An unknown buyer agreed to acquire 99.97% stake in PT Posco Mtech Indonesia from Posco M-Tech Co., Ltd. for KRW 0.001 million.
January 24, 2017
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An unknown buyer agreed to acquire 99.97% stake in PT Posco Mtech Indonesia from Posco M-Tech Co., Ltd. (KOSDAQ:A009520) for KRW 0.001 million on January 25, 2017. Under the terms of the transaction, Posco M-Tech Co., Ltd. will sell 6.99 million shares. Post-closing, Posco M-Tech Co., Ltd. will not hold any shares in PT Posco Mtech Indonesia. The transaction was resolved by the Board of Directors of Posco M-Tech Co., Ltd. on January 25, 2017. The transaction is expected to complete on April 24, 2017. As announced on April 21, 2017, the transaction is expected to close on May 25, 2017.
POSCO M-TECH CO.,LTD. is a Korea-based company mainly engaged in the provision of steel raw materials and packing materials. The Company operates its business through four divisions: steel raw materials division, packing business division, engineering business division and magnesium division. Its steel raw materials division provides aluminum ingots, pellets, mini-pellets, molybdenum briquette and ferro-molybdenum. Its packing business division provides packaging materials, packaging services and packing equipment. Its engineering division distributes packaging equipment, such as steel coil packaging lines, steel sheet dispensers, strap masters, outer-ring molders, steel automatic attaching facilities and others. Its magnesium division operates magnesium smelting factories. The Company also involves in the real estate rental business.
POSCO M-TECH CO., LTD. 
