Hyundai Department Store Holding Company Announces Tender Offer for 15% Stake in Welfare Mall Hyundai Easywell

Hyundai G.F. Holdings, the holding company of Hyundai Department Store Group, will conduct a tender offer to acquire 15% of its affiliate Hyundai Easywell's shares.

According to the distribution industry on the 10th, Hyundai G.F. Holdings will conduct a tender offer for 3,561,954 common shares of Hyundai Easywell from the 11th to the 30th. This corresponds to 15% of Hyundai Easywell's issued shares.

The tender offer price is 7,000 KRW per share, which is higher than the closing price of 6,050 KRW on the 8th. Hyundai G.F. Holdings currently holds a 35% stake in Hyundai Easywell, and upon completion of this tender offer, it will secure a 50% stake.