Inhwa Precision Co., Ltd agreed to acquire a 20.95% stake in HSD Engine Co., Ltd. from Socius-WelltoSea Investment Corporate Finance Stabilization PEF 1, managed by Well to Sea Investment Co., Ltd. for KRW 79.4 billion.
November 26, 2021
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Inhwa Precision Co., Ltd (KOSDAQ:A101930) agreed to acquire a 20.95% stake in HSD Engine Co., Ltd. (KOSE:A082740) from Socius-WelltoSea Investment Corporate Finance Stabilization PEF 1, managed by Well to Sea Investment Co., Ltd. for KRW 79.4 billion on November 26, 2021. Under the terms of transaction, 9.8 million shares will be acquired by Inhwa Precision Co., Ltd. In a related transaction, Inhwa Precision Co., Ltd Inhwa Precision Co., Ltd acquired 3.339596 million shares representing 7.14865% stake in HSD Engine Co., Ltd. through call option exercise on November 26, 2021.
Inhwa Precision Co., Ltd. is a Korea-based company principally engaged in the manufacture of vessel engine components. The Company's vessel engine components include cylinder covers, cylinder frames, bed plates, frame boxes and others for low-speed diesel engines, as well as base frames and common beds for medium-speed diesel engines. It also provides power plant components, such as exhaust frames, end shields, bearing housings, main lead boxes, diffusers and others. In addition, through its subsidiaries, it is involved in the provision of automobile components such as joint cages, diff gears and others, as well as metal tooling machines such as soft line machines, rolling machines and others. The Company mainly distributes its products within domestic market.
Inhwa Precision Co., Ltd agreed to acquire a 20.95% stake in HSD Engine Co., Ltd. from Socius-WelltoSea Investment Corporate Finance Stabilization PEF 1, managed by Well to Sea Investment Co., Ltd. for KRW 79.4 billion.
INHWA PRECISION CO., LTD 