S.Korea SK Networks says to buy Tongyang Magic for $563 mln

SK Networks Co

30/09/2016 10:01

SEOUL, Sept 30 (Reuters) - South Korea's SK Networks Co Ltd 
 001740.KS  said in a regulatory filing on Friday it has agreed 
on a deal to buy Tongyang Magic, a kitchen appliance maker and 
water purifier rental firm, for 619 billion won ($563 million).  
    The purchase by SK Networks, whose operations includes a car 
rental business, carries a price tag that is more than double 
the 279.9 billion won that owner NH-Glenwood Private equity 
consortium paid for Tongyang Magic just two years ago. 
 urn:newsml:reuters.com:*:nL3N1C318U 
 
($1 = 1,099.9900 won) 
 
 (Reporting by Joyce Lee; Editing by Kenneth Maxwell) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: TONGYANG MAGIC M&A/SK NETWORKS