SEOUL, June 30 (Korea Bizwire) — Financially troubled MG Non-Life Insurance Co. may be put back on the selling block after the country’s financial regulator and the company’s labor union tentatively agreed on the matter, industry sources said Monday. In May this year, the Financial Services Commission said it has decided to liquidate MG Non-Life [...]
SEOUL, Aug. 23 (Korea Bizwire) — North Korea on Friday denounced the United States’ approval of a potential sale of Apache attack helicopters to South Korea as a provocative act that deliberately aims to increase security instability in the region. A North Korean foreign ministry official issued the statement after the U.S. announced a decision [...]
SEOUL, Sept. 26 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) signed a preliminary investment deal with Hanwha Group on Monday, in a move that could put the embattled shipyard in the latter’s hands. Under a memorandum of understanding, Hanwha Aerospace and other Hanwha subsidiaries will participate in DSME’s 2 trillion-won (US$1.4 billion) [...]
SEOUL, Aug. 8 (Korea Bizwire) — South Korea plans to sell state-owned unused and idle lands and buildings over the next five years in a bid to bolster public finances, the finance ministry said Monday. The government said it plans to push to sell assets worth 16 trillion won (US$12.3 billion) and more in the [...]
SOUTHAMPTON, Pa., June 20 (Korea Bizwire) – Environmental Tectonics Corporation’s (OTC Pink: ETCC) (“ETC” or the “Company”) today announced that on June 15, 2022, the Company closed a transaction to sell and lease back our property located in Southampton, Pennsylvania. This property sold consists of our corporate headquarters, main production plant, and the NASTAR Center. Under the [...]
SEOUL, Sept. 1 (Korea Bizwire) — The sale of South Korea’s No. 2 dairy firm Namyang Dairy Products Co. fell through Wednesday as it renounced a contract to sell a controlling stake. Three months earlier, Namyang Dairy Products Chairman Hong Won-sik and his family signed a deal with local private company Hahn & Company to [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s antitrust regulator said Thursday it extended the deadline for the sale of Delivery Hero’s food delivery affiliate here, Yogiyo, until Jan. 2 next year, as the German company is facing difficulty in finding a potential investor. In December last year, the Korea Fair Trade Commission (KFTC) ordered [...]
SEOUL, Jan. 26 (Korea Bizwire) — The SK Wyverns are far from being the first South Korean baseball club to be sold, but their impending ownership change, from the mobile carrier SK Telecom to the retail giant E-Mart under Shinsegae Group, comes as a surprise for different reasons. SK Telecom is selling the team even [...]
VICTOR, N.Y., Jan. 12 (Korea Bizwire) – Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has closed its sale of the Paul Masson Grande Amber Brandy brand, related inventory, and interests in certain contracts to Sazerac for approximately $265 million, subject to certain post-closing adjustments. “The closure of [...]
MONTREAL, Oct. 26 (Korea Bizwire) — Bombardier (TSX: BBD.B) announced today it has entered into an amended definitive agreement to sell its aerostructures business to Spirit AeroSystems Holding, Inc. (Spirit), supporting Bombardier’s strategic decision to reposition itself as a pure-play business aircraft company. This transaction is set to close on October 30, 2020 as all [...]