Miko Acquires 52 Billion KRW Worth of Hyundai Heavy Industries Power Systems Shares... 49.5% Stake

Mico announced on the 23rd that it will acquire 494,618 shares of Hyundai Heavy Industries Power Systems Co., Ltd., a manufacturer and seller of industrial boilers and scrubbers, for approximately KRW 51.95 billion. After the acquisition, Mico's stake in Hyundai Heavy Industries Power Systems will be 49.5%.

The company stated that the purpose of the acquisition is to "strengthen the energy and environmental business portfolio and secure future growth engines."