Jangwon Remicon (Jeongseon Aggregate Group) acquires 79% of Ssangyong Remicon for KRW 385.6bn
- Deal value
- $266m
- Stake
- 79%
- Implied 100%
- $337m
- Revenue
- $271m
- Op. income
- $20m
- Multiples
- EQV/EBIT 17.0xPSR 1.2x
Deal value ÷ stake (structure unconfirmed)
2022 별도 · DART-verified
2022 별도 · DART-verified
On implied equity value
DART 20230327000643
- Target
- Ssangyong Remicon · Ready-mixed concrete
- Buyer
- Jangwon Remicon (Jeongseon Aggregate Group) · SI
- Seller
- Ssangyong C&E (Hahn & Company portfolio company)
- Structure
- —
- Announced
- Jul 28, 2023
- Closed
- —
- Stage
- Closed
Target
Ssangyong Remicon began ready-mixed concrete operations at the Seobinggo plant in 1965 and was spun off from Ssangyong C&E in April 2009. It operates 19 plants nationwide with annual capacity of 15 million cubic meters.
Deal rationale
Ssangyong C&E disclosed the sale was for financial-structure improvement and business reorganization, saying it would invest proceeds in its cement business and in facilities for an integrated environmental business. According to IB Tomato, the regional Jeongseon Aggregate group gained a nationwide network through the deal; the buyer's own stated rationale was not reported.
| Revenue | $271m |
| Operating income | $20m |
| EBITDA | — |
| Net income | — |
2022 별도 · DART-verified · 20230327000643
Press coverage
- 머니투데이 (2023-07-28): “쌍용레미콘 주식 일부와 관련 부동산을 3856억원에 매각”
- 이데일리 (2023-07-28): “쌍용레미콘 매각해 4400억대 유동성 확보”
- 비즈한국 (2023-08-04): “쌍용레미콘 매각은 종합환경기업으로 나아가기 위한 근간을 마련하고 재무적 안정성을 강화하기 위해 추진됐다.”
- IB토마토 (2026-08-20): “나머지 지분에 대한 풋옵션까지 포함하면 쌍용C&E가 확보하는 매각대금은 약 4400억원 규모로 추산됐다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.