Sierra Subscription Economy Private Equity Fund agreed to acquire 80% stake in Hyundai Rental Care Co., Ltd. from Hyundai Home Shopping Network Corporation (KOSE:A057050) for KRW 137 billion on December 26, 2022. Hyundai Home Shopping Network Corporation agreed to dispose 12.64 million shares of Hyundai Rental Care. The board of directors of Hyundai Home Shopping Network Corporation approved the transaction.

Hyundai Rental Care recorded total assets of approximately KRW140.5 billion, net capital of KRW 111.3 billion, Sales of KRW 115.5 billion and net loss of KRW 23.9 billion for the year ended December 31, 2021. The transaction is expected to close on January 31, 2023.