Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) is dated November 13, 2006. The report discloses a material event involving Woori Bank, a wholly-owned subsidiary, regarding the disposition of shares in Daewoo Engineering & Construction.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, margins, debt, or liquidity metrics for the reporting period. It focuses exclusively on a specific asset disposal transaction.
| Transaction Detail | Value |
|---|---|
| Sale Amount | 489,059,972,138 Won |
| Shares Sold | 18,622,007 |
| Outstanding Shares (Pre-Sale) | 19,062,007 |
| Outstanding Shares (Post-Sale) | 400,000 |
| Expected Closing Date | December 15, 2006 |
Material Changes
Woori Bank agreed to sell the vast majority of its holdings in Daewoo Engineering & Construction to a third party. Following this transaction, the subsidiary's ownership in Daewoo Engineering & Construction will be reduced from 19,062,007 shares to 400,000 shares.
Guidance, Outlook, and Risks
The filing notes that there may be changes to the transaction structure or schedule in the future. No specific financial guidance, management commentary on future performance, or discussion of other risks and contingencies is provided in this document.
Investor Verification Checklist
- Confirm the final closing date of the transaction, currently expected for December 15, 2006.
- Verify the final sale price and any potential adjustments to the 489 billion Won figure.
- Monitor for any changes to the transaction structure as noted in the filing.
- Assess the impact of the remaining 400,000 share holding on future financial statements.