An unknown buyer agreed to acquire 7.9% stake in Pyeong HWA Clutch Industry Co. Ltd. from Pyeong Hwa Automotive Co., Ltd. for KRW 80.6 billion.
December 18, 2018
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An unknown buyer agreed to acquire 7.9% stake in Pyeong HWA Clutch Industry Co. Ltd. from Pyeong Hwa Automotive Co., Ltd. (KOSDAQ:A043370) for KRW 80.6 billion on December 19, 2018. As per the terms, 0.1 million shares will be sold at KRW 758,530 per share. Pyeong Hwa Automotive will receive KRW 555 million on December 19, 2018 and balance KRW 80 billion on December 28, 2018. Resolution of board of directors of Pyeong Hwa was done on December 19, 2018. The transaction is expected to be completed on December 28, 2018.
PHA Co Ltd, formerly Pyeong Hwa Automotive Co Ltd is a Korea-based company mainly engaged in the manufacturing of automotive parts. The Companyâs products portfolio consists of latch assemblies, including door, seat, hood, trunk lid and tail gate latches; door module assemblies, including sealed door modules and open door modules; hinge assemblies, including door, hood and trunk lid and tail gate hinges; striker assemblies, as well as door checkers, regulator systems, power systems and others. The Company distributes its products within domestic market and to overseas markets.
PHA CO., LTD. 
