Hankook Technology Group Co., Ltd. (KOSE:A000240) agreed to acquire remaining 25.11% stake in Hankook Atlasbx Co.,Ltd. (KOSDAQ:A023890) for KRW 51.4 billion on November 26, 2020. The contract was signed on November 30, 2020. One share of Hankook AtlasBX will be exchanged to 3.39 shares of Hankook Technology Group.

Hankook Technology Group will issue 1.92 million new shares and 1.33 million shares of its treasury stocks in exchange for the merger. The transaction is subject to approval by the shareholders of Hankook Atlasbx Co.,Ltd. and was resolved by Board of Directors of Hankook Atlasbx on November 26, 2020. The shareholder meeting for approval is expected to be done on February 15, 2021 and the general shareholders' meeting to approve the merger is only for Hankook Atlasbx Co.,Ltd. The transaction is expected to close by April 1, 2020.