# LS Cable & System acquires 31.59% stake in Gaon Cable

LS Cable & System signed a contract to acquire a 31.59% stake in Gaon Cable from individual major shareholders for approximately KRW 30.3 billion ($28 million), becoming the largest shareholder.

- Type: Acquisition
- Announced: 2018-01-24
- Where: South Korea
- Value: $28.0M (30.3B KRW)
- Status: announced
- Products: cables
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Gaon Cable](https://endata.com/companies/15295.md) (target)
- [LS Cable & System](https://endata.com/companies/21025.md) (acquirer)

## Sources

- [lscns.co.kr](http://www.lscns.co.kr/en/pr/news_view.asp?idx=103505), 2018-01-24: "We will be able to build differentiated competitiveness in the global cable market by sharing LS Cable & System's global business competencies and experiences with Gaon Cable."
- [asiae.co.kr](https://www.asiae.co.kr/article/2018012419312195286), 2018-01-24: "LS전선의 글로벌 사업 역량과 경험을 국내 사업 위주였던 가온전선과 공유함으로써 세계 케이블 시장에서 차별적인 경쟁력을 갖출 수 있을 것"

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.