Hyundai Industrial Co., Ltd. agreed to acquire 3.05% stake in Haezoom Inc. for KRW 840 million.
June 12, 2017
Share
Hyundai Industrial Co., Ltd. (KOSDAQ:A170030) agreed to acquire 3.05% stake in Haezoom Inc. for KRW 840 million on June 13, 2017. As part of the deal, 0.012 million shares of Haezoom will be acquired. For the period ending December 31, 2016, Haezoom reported total assets of KRW 5.95 billion, net assets of KRW 2.6 billion, revenue of KRW 6.9 billion and net loss of KRW 330 million. Board of Hyundai Industrial resolved the deal. Deal is expected to close on June 13, 2017. As of June 13, 2017, the closing date was re-scheduled to June 16, 2017.
Hyundai Industrial Co.,Ltd. is a Korea-based company mainly engaged in the manufacture and distribution of automobile components. The Company's product portfolio consists of automobile seat pads, armrests, head rests, seat side pads and others. Its products are mainly used for automobile seats. The Company's main clients consist of Hyundai Motors and Kia Motors. The Company distributes its products within domestic market and to overseas markets.