KYB Corporation (TSE:7242) resolved to purchase remaining 50% stake in KYB Mando do Brasil Fabricante de Autopeças S.A. from Halla Holdings Corp. (KOSE:A060980) for BRL 37.2 million on January 29, 2018. KYB Corporation entered into a share purchase agreement to purchase remaining 50% stake in KYB Mando do Brasil Fabricante de Autopeças S.A. from Halla Holdings Corp. on March 26, 2018. Under the terms of the transaction, KYB Corporation will acquire 37.2 million shares of KYB Mando for BRL 1 per share. Following the acquisition, KYB Mando do Brasil Fabricante de Autopeças will become a wholly-owned subsidiary of KYB Corporation. The acquisition was approved by the Board of Directors of KYB Corporation. The execution of agreement is expected to take place in middle of February, 2018 and the deal is expected to close in late May, 2018. Thiago Sandim, Betina Castellanos and Gabriel Queiroz of Demarest Advogados acted as legal advisor to KYB Corporation. Linklaters LLP acted as legal advisor to KYB Corporation.

KYB Corporation (TSE:7242) cancelled the acquisition of 50% stake in KYB Mando do Brasil Fabricante de Autopeças S.A. from Halla Holdings Corp. (KOSE:A060980) on January 29, 2019.