KCC, a KOSPI-listed company, announced on July 3 that it will acquire an additional 218,785 shares of its U.S.-based silicone business subsidiary, MOM Holding, for approximately 985.6 billion KRW.
After the acquisition, KCC's ownership stake will become 100%. The scheduled date of acquisition is July 31.
KCC stated that the purpose of this share acquisition is "to participate in the subsidiary's rights offering (allocation to shareholders)."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
