SL Acquires Additional 51.3 Billion KRW Worth of Shares in U.S. Subsidiary

[Asia Economy Reporter Lee Jung-yoon] SL announced on the 17th that it will additionally acquire 400,000 shares of its American holding company subsidiary (SL AMERICA) for approximately 51.3 billion KRW.

After the stock acquisition, the shareholding ratio will be 100%, and the scheduled stock acquisition date is the 28th. SL stated that the stock acquisition is for "financial support for development costs and facility investments necessary for the mass production of new cars at SL Tennessee."