Yamato Kogyo Co., Ltd. (TSE:5444) entered into an agreement to acquire 49% stake in POSCO SS-Vina Co., Ltd. from POSCO (KOSE:A005490) for $100 million on December 13, 2019. As per the agreement, Yamato Kogyo Co., Ltd. will acquire 408.92 million shares from POSCO. Post completion, POSCO SS-Vina Co., Ltd. will be named as POSCO Yamato Vina Steel Joint Stock Company. The Board of Directors of Yamato Kogyo Co., Ltd. passed the resolution. The transaction will be carried out promptly after obtaining approval from the relevant authorities. The impact of this transaction on the Yamato Kogyo Co., Ltd consolidated performance for the fiscal year ending March 31, 2020 is immaterial. GCA Corporation acted as financial advisor to Yamato Kogyo Co., Ltd.

Yamato Kogyo Co., Ltd. (TSE:5444) completed the acquisition of 49% stake in POSCO SS-Vina Co., Ltd. from POSCO (KOSE:A005490) on March 27, 2020.