KCC GLASS Corporation (KOSE:A344820) agreed to acquire 80% stake in Korea Auto Glass Co., Ltd. (KOSE:A152330) for KRW 2.4 trillion on September 9, 2020. The exchange ratio is 1: 0.4756743. KCC Corporation (KOSE:A002380) will issue 7.6 million shares. The transaction is subject to shareholders approval. The transaction must get at least two-thirds of the voting rights of attending shareholders and one-third of the total number of issued shares. Transaction is expected to complete on December 2, 2020.
KCC GLASS Corporation (KOSE:A344820) completed the acquisition of 80% stake in Korea Auto Glass Co., Ltd. (KOSE:A152330) on December 1, 2020.