SeAH Steel International Co., Ltd. completed the acquisition of 50% stake in Landmark Steel Corp. from SeAH Steel Corporation.

SeAH Steel International Co., Ltd. agreed to acquire 50% stake in Landmark Steel Corp. from SeAH Steel Corporation (KOSE:A003030) for approximately KRW 2.8 billion on May 8, 2018. In a related transaction, SeAH Steel International Co., Ltd. agreed to acquire stakes in 9 other companies on May 8, 2018. A total consideration paid by SeAH Steel International Co., Ltd. is approximately KRW 480 billion for the issuance of 2 million new shares. Payment of consideration will be done on date of sale i.e. July 23, 2018. During the financial year ended December 2017, Landmark Steel Corp. reported sales of KRW 803 million and net loss of KRW 2.9 billion. As of December 2017, Landmark Steel Corp. reported total assets of KRW 8.9 billion and net assets of KRW 3.5 billion. The transaction has been resolved by the Board of SeAH Steel Corporation. The transaction is expected to be completed on July 23, 2018. Samil PricewaterhouseCoopers acted as External Rating Institution for SeAH Steel Corporation. SeAH Steel International Co., Ltd. completed the acquisition of 50% stake in Landmark Steel Corp. from SeAH Steel Corporation (KOSE:A003030) on August 29, 2018.