[Alpha Biz= Reporter Kim Sangjin] Hansae Yes24 Group has completed the acquisition of automotive parts company Irae AMS.
According to a filing with the Financial Supervisory Service's electronic disclosure system on the 7th, Hansae Yes24 Holdings (016450) has acquired an 80.6% stake in Irae AMS for 1.354 trillion won, purchasing 9,607,384 shares. Hansae Yes24 Holdings was selected as the preferred bidder for the acquisition of Irae AMS in August.
The acquisition is part of Hansae Yes24 Group's strategy to diversify its business and secure new growth opportunities. Kim Seok-hwan, Vice Chairman of Hansae Yes24 Holdings, mentioned during a press conference in Ho Chi Minh City, Vietnam on October 16th, that Irae AMS would become one of the group’s new growth drivers. He added that by applying Hansae Yes24 Group’s management expertise, they expect to achieve even greater outcomes with Irae AMS.
Hansae Yes24 Holdings, which owns subsidiaries like Hanse Sewing (an ODM manufacturer in the apparel industry) and cultural content/publishing firms such as Yes24 and Dong-A Publishing, will finalize the acquisition by paying the remaining balance of 1.2186 trillion won on November 16th.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
