LG Energy Solution Contributes 50% Equity Stake in Ultium Cells Holdings as Non-Cash Capital Injection
[Asia Economy Reporter Moon Hyewon] LG Energy Solution announced on the 22nd that it has contributed a 50% stake in kind to participate in the rights offering of Ultium Cells Holdings, a joint venture with General Motors (GM). The disposal amount is 1.7925 trillion KRW, which corresponds to 7.5% of total assets.
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The company explained, "We participated in the rights offering of Ultium Cells Holdings through an in-kind contribution to achieve an efficient change in the governance structure."
This content was produced with the assistance of AI translation services.
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