Ssangyong Cement sells headquarters

Ssangyong Cement sells headquarters
Published: 28 September 2007

South Korean cement maker  Ssangyong Cement Industrial Co. said Friday it sold its headquarter building in Seoul to Golden Bridge Asset Management Co. for 100 billion won (US$109m) in a bid to repay its debts.  
 
Ssangyong expected proceeds from the sale to lower the ratio of its debt to capital to 120 per cent from 134 percent, the company said.