[Asia Economy Reporter Myunghwan Lee] Codenature announced on the 18th that it has decided to acquire Hunners ENG, a manufacturer of electric vehicle bearing cages, for the purpose of entering new businesses and diversifying its operations.
According to this decision, Codenature will acquire 1.1 million shares of Hunners ENG for 6 billion KRW. After the acquisition, the shareholding ratio will be 100%. The acquisition amount corresponds to 16.1% of Codenature's total assets.
The transaction payment will be made by paying 300 million KRW in cash and 5.7 billion KRW in convertible bonds. The scheduled acquisition date is the 26th of this month.
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