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 [...]
SEOUL, Sept. 7 (Korea Bizwire) — South Korea’s midsized shipbuilders have been stuck in a prolonged slump amid weak orders caused by the coronavirus pandemic, and their turnaround is not plausible in the foreseeable future. Three midsized shipbuilders — Hanjin Heavy Industries & Construction Co., Daesun Shipbuilding Engineering Co. and STX Offshore & Shipbuilding Co. [...]
SEOUL, Aug. 14 (Korea Bizwire) — South Korea’s food and entertainment conglomerate CJ Group said Friday it is seeking to sell its bakery franchise Tous Les Jours. The group said it has selected accounting firm Deloitte Anjin as a sales manager and is reviewing various options to boost the competitiveness of Tous Les Jours. CJ [...]