Hyundai Engineering & Construction Co., Ltd. (KOSE:A000720) agreed to acquire additional 43.94% stake in Songdo Landmark City, LLC from Samsung C&T Corporation (KOSE:A028260) for KRW 54.2 billion on December 4, 2018. Under the terms, Hyundai Engineering & Construction acquired 5.94 million shares at KRW 9136 per share and increased the shareholding from 6.8 million shares (50.26%) to 12.73 million shares (94.2%) in Songdo Landmark. The Bard of Directors of Hyundai Engineering & Construction Co., Ltd. passed a resolution for the deal on December 4, 2018. The deal is expected to close on December 20, 2018.

Hyundai Engineering & Construction Co., Ltd. (KOSE:A000720) completed the acquisition of an additional 43.94% stake in Songdo Landmark City, LLC from Samsung C&T Corporation (KOSE:A028260) on December 20, 2018.