Hankook Tire, Hanon Systems Postpone Acquisition Date Due to "Overseas Approval Delays"

Hankook Tire & Technology (Hankook Tire) announced on the 11th that the acquisition date for new shares related to the acquisition of Hanon Systems has been postponed.

Hankook Tire corrected the scheduled acquisition date from today to the 23rd of this month. Hankook Tire explained, "The transaction's precedent conditions were not met due to delays in approval from overseas regulatory authorities."

Previously, Hankook & Company Group (formerly Hankook Tire Group) signed a stock purchase agreement (SPA) for the acquisition of Hanon Systems with Han & Company.

If Hankook Tire acquires 144,962,552 new shares through a paid-in capital increase as scheduled on the 23rd and completes the procedures for acquiring existing shares, the acquisition will be finalized.