Sampyo Corporation (“Sampyo”) and KDB Sigma Private Equity Fund for Corporate Financial Stability II (“KDB PEF”) formed a consortium to acquire shares and the control of Tongyang Cement & Energy Corp. (“Tongyang Cement”) owned by Tongyang Inc. Sampyo plans to acquire 45.07% of the issued and outstanding shares of Tongyang Cement through Sampyo Cement Co., Ltd. to be established and KDB PEF plans to acquire 9.88% of the issued and outstanding shares of Tongyang Cement. The estimated deal size was approximately KRW 790 billion.
Lee & Ko acted as a legal counsel for KDB PEF and provided comprehensive legal advices related to the acquisition of shares and control of Tongyang Cement and the shareholders agreement between Sampyo and KDB PEF.