Hyundai Mobis Co.,Ltd. (KOSE:A012330) signed an agreement to acquire 36.11% stake in G.I.T. Co., Ltd. from THN Corporation (KOSE:A019180) for KRW 48 billion on July 28, 2015. Under the terms of the transaction, THN Corporation will sell 3.33 million shares of G.I.T. Co., Ltd at KRW 14408 per share. Hyundai Mobis paid the deposit on July 28, 2015 and will make the balance payment on September 14, 2015. The balance payment date may change according to the completion schedules of the prerequisite. The balance payment for the acquisition is expected to be made on November 20, 2015. As announced on November 20, 2015, the balance payment date was changed to December 24, 2015.

G.I.T. reported total assets of KRW 86.8 billion, total liabilities of KRW 17.4 billion, revenue of KRW 58.6 billion and net profit of 16.2 billion in the year ending on September 30, 2014. The Board of Directors of THN Corporation passed a resolution for the transaction on July 28, 2015. As of December 21, 2015, transaction is expected to close on December 21, 2015. Dae Gyeong Accounting Corp. acted as the valuer in the transaction.

Hyundai Mobis Co.,Ltd. (KOSE:A012330) cancelled the acquisition of 36.11% stake in G.I.T. Co., Ltd. from THN Corporation (KOSE:A019180) on July 28, 2016.