Hs Hyosung Advanced Materials (KOSE:A298050) agreed to acquire 80% stake in Extra Mile Materials B.V. from Umicore SA (ENXTBR:UMI) for ?120 million on November 3, 2025. A consideration of ?120 million will be paid by Hs Hyosung Advanced Materials. As part of consideration, ?120 million is paid towards common equity of Extra Mile Materials B.V. Umicore will hold a minority stake of 20% in Extra Mile Materials. All of Umicore?s employees working for the anode materials activity will transfer to Extra Mile Materials and retain their employment terms and conditions.

The transaction is subject to approval by regulatory board / committee. Umicore and HS Hyosung Advanced Materials expect that closing of the transaction will occur in the coming months.