Hyundai Electric & Energy Systems Co., Ltd. (KOSE:A267260) agreed to acquire 99.1% stake in Hyundai Heavy Industries Co. Bulgaria JSC from Hyundai Heavy Industries Co., Ltd. (KOSE:A009540) for KRW 33.6 billion on December 15, 2017. Hyundai Electric & Energy Systems will acquire 12.2 million shares of Hyundai Heavy Industries Co.

Bulgaria at KRW 2764 per share. The acquisition is expected to close on December 29, 2017.