This transaction is the joint venture agreement between OCI Company Ltd. and POSCO Chemical Co. Ltd. to co-invest in a hydrogen peroxide business. The total investment consideration is KRW 136bn (paid-in capital of KRW 76bn) with OCI owning 49% of shares and POSCO Chemical owning 51% shares of the joint venture. Lee & Ko has advised OCI throughout the whole transaction process including drafting and amending the joint venture agreement and its supplementary documents, as well as supporting the negotiation on behalf of OCI, thus successfully completing the execution of the joint venture agreement in February 2020.
[Pulse] Posco Chemical, OCI to set up high-purity hydrogen peroxide JV