Honam Petchem, LG Chem But Out Hyundai Petchem

摘要

Hyundai Petrochemical Co. (HPC) and its creditors (lead creditor: Woori Bank) signed January 30 the share purchase agreement with the consortium of LG Chem and Honam Petrochemical. The acquisition price is Won1.76 trn (us1.5 bn), of which Won 1.42 trn will be paid in cash at closing and Won340 bn will be assumed in the form of deferred liabilities. Upon completion, LG and Honam will each own 50% of HPC.