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.