Hyosung Corporation (KOSE:A004800) made a tender offer to acquire an additional 29.8% stake in Hyosung Chemical Corporation (KOSE:A298000) for KRW 120 billion on October 26, 2018. Under the transaction, Hyosung Corporation will issue new shares to acquires 0.95 million shares at KRW 1,25,500 per share. On November 26, 2018, the deal terms were revised and the share exchange ratio is revised from 2.7300413 to 2.58507. In a related transaction, Hyosung Corporation (KOSE:A004800) made a tender offer to acquire stakes in Hyosung Heavy Industries Corporation, Hyosung Advanced Materials Corporation and Hyosung TNC Corporation. Tender offer period starts from November 28, 2018 till December 17, 2018. Mirae Asset Daewoo Co., Ltd. acted as Service management company to Hyosung Corporation.

Hyosung Corporation (KOSE:A004800) completed the acquisition of an additional 14.91% stake in Hyosung Chemical Corporation (KOSE:A298000) for KRW 74 billion on December 20, 2018. Under the offer, 0.47 million shares of Hyosung Chemical Corporation were tendered. Suk-Rae Cho, Hyun-Joon Cho, Hyun-Sang Cho and Dong Yang Institute participated in the offer by tendering, 0.1 million, 0.19 million, 0.16 million and 0.017 million shares respectively of Hyosung Chemical Corporation.