[Asia Economy Reporter Koo Eun-mo] Iljin Materials, a KOSPI-listed company, announced on the 6th that it will additionally acquire 49,645,839 shares of its subsidiary's subsidiary, IMG Technology, for approximately 94.8 billion KRW. After the stock acquisition, Iljin Materials' stake in IMG Technology will reach 100%. The scheduled date for the stock acquisition is the 16th of next month.
Iljin Materials stated that the purpose of this stock acquisition is "to efficiently manage overseas subsidiaries (such as in Malaysia) through acquiring shares of IMG Technology."
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