Hyundai Genuine Co., Ltd. agreed to acquire industrial vehicle division from Hyundai Construction Equipment Co., Ltd. (KOSE:A267270) for approximately KRW 140 billion on October 21, 2021. As of February 4, 2022, the final transfer value has been changed as the difference between the net asset amount between the evaluation base date and the transaction closing date was added or reduced and settled through mutual agreement. The transferee agreed to pay an additional amount of KRW 20.1 billion. The final transfer price is KRW 156. 2 billion which is the sum of the previously paid KRW 136 billion and the settlement amount of KRW 20.2 billion. The deal is subject to approval by shareholders of Hyundai Construction Equipment Co., Ltd. The transaction is expected to close on January 1, 2022.

Hyundai Genuine Co., Ltd. completed the acquisition of industrial vehicle division from Hyundai Construction Equipment Co., Ltd. (KOSE:A267270) on January 1, 2022. As of July 25, 2022, the total consideration has been revised to approximately KRW 155 billion.