DN Automotive Acquires Additional 51 Billion KRW Worth of Affiliate Shares
DN Automotive announced on the 16th that it will additionally acquire 2,001,570 shares of its affiliate GMT Holdings for approximately 51 billion KRW.
The acquisition amount of 51 billion KRW corresponds to 3.66% of its equity capital.
After the stock acquisition, DN Automotive's stake in GMT Holdings will be 95.1%. The scheduled date for the stock acquisition is the 4th of next month.
DN Automotive stated that the purpose of this stock acquisition is to "improve the financial structure of GMT Holdings."
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As of 2023, GMT Holdings recorded sales of 95 billion KRW and a net loss of 5.6 billion KRW. Its total assets amount to 2.0987 trillion KRW, of which liabilities are 1.3438 trillion KRW and equity is 754.9 billion KRW.
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