An unknown buyer agreed to acquire 30% stake in Seoyon E-Hwa Automotive India Pvt. Ltd. from Seoyon E-Hwa Co., Ltd. for KRW 45.5 billion.
January 13, 2020
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An unknown buyer agreed to acquire 30% stake in Seoyon E-Hwa Automotive India Pvt. Ltd. from Seoyon E-Hwa Co., Ltd. (KOSE:A200880) for KRW 45.5 billion on January 14, 2020. As per the transaction, Seoyon E-Hwa Co., Ltd. will sell 9.84 million shares. Post completion, Seoyon E-Hwa Co., Ltd. will hold 22.96 million shares representing 70% stake of Seoyon E-Hwa Automotive India Pvt. Ltd. The Board of Directors of Seoyon E-Hwa Automotive India Pvt. Ltd. has passed the resolution for the transaction. The closure of the Indian Register of Business (ROC) is maintained as the Indian government extended the complete lockdown of India from May 25, 2020 to May 3, 2020 due to the occurrence of Corona 19 in India, so remittance process was delayed. Transaction is expected to complete on March 31, 2020. As reported on March 31, 2020, the transaction will close on April 30, 2020. As of April 27, 2020, the transaction will close on June 30, 2020.
SEOYON E-HWA CO.,LTD., formerly Hanilewha is a Korea-based company principally engaged in the design, manufacture and sale of automobile interior parts. The Companyâs main products portfolio consists of door trims, bumpers, consoles, seats, screen assemblies, pillar trims, head linings, covering shelves, as well as package trays, among others. The Companyâs products are applied in the passenger vehicles, commercial vehicles, heavy equipment, ships and others. The Company distributes its products within domestic market and to overseas markets.
SEOYON E-HWA CO., LTD. 
