Deutsch Motors Inc. (KOSDAQ:A067990) agreed to acquire Sajik Auto Land Co., Ltd. for KRW 33.5 billion on November 21, 2022. Deutsch Motors will acquire 0.08 million shares of Sajik Auto Land and consideration will be paid in cash The board of directors of Deutsch Motors approved the transaction. Sajik Auto Land recorded Total assets of KRW 19.8 billion, Total stockholders' equity of KRW 2.6 billion, net income of KRW 951 million and total revenue of KRW 4.1 billion for the year ended December 31, 2021.

The transaction is expected to close by August 31, 2023.