Korea & Company Expands Stake in Hanon Systems to 54.77%
Korea & Company Group announced on the 30th that it has finalized the acquisition of Hanon Systems at the Hankook Tire board meeting held at the Pangyo Technoplex in Gyeonggi-do.
According to the announcement, Hankook Tire will purchase 23% of Hanon Systems shares held by the private equity firm Hahn & Company at 10,000 KRW per share. The plan to purchase 25% of the shares at 10,250 KRW per share has been partially revised.
The new shares issued through a paid-in capital increase will be expanded from 365.1 billion KRW to 600 billion KRW.
Korea & Company Group explained that this reflects recent market environment changes and aims to secure the financial soundness of Hanon Systems.
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With this share acquisition, Korea & Company Group's stake in Hanon Systems will increase to 54.77%.
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