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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] HS Hyosung Advanced Materials announced on March 31 that it will acquire 180 million shares in Belgium-based battery materials and energy storage company Extra Mile Materials BV for approximately KRW 104 billion.
Following the transaction, HS Hyosung Advanced Materials will hold a 66.7% stake in the company. The share acquisition is scheduled to be completed on the same day as the disclosure.
The company stated that the purpose of the acquisition is to establish a joint venture, signaling a strategic move to strengthen its presence in the secondary battery materials sector.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
