MS Autotech Co., Ltd. (KOSDAQ:A123040) agreed to acquire additional 50% stake in Myoungshin India Automotive Private Ltd. from Myoung Shin Industrial Co., Ltd. for KRW 15.4 billion on April 2, 2014. Under the terms of the deal, 147.85 million shares will be acquired. After the transaction, MS Autotech will hold 95% stake in Myoungshin India Automotive Private.

For the period ended December 31, 2013, Myoungshin India Automotive had total assets of KRW 117.37 billion, total liabilities of KRW 92.53 billion, total stockholders' equity of KRW 24.85 billion, sales revenue of KRW 115.13 billion and current net loss of KRW 19.16 billion. The resolution date of Board of Directors of MS Autotech was April 2, 2014. The scheduled acquisition date is May 2, 2014. Vijayaraghavan & Associates Chartred Accountants acted as accountant for Myoungshin India Automotive Private.