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.

With this share acquisition, Korea & Company Group's stake in Hanon Systems will increase to 54.77%.