Mando Corporation completed the acquisition of Mando-Hella Electronics Corp from Halla Holdings Corp. and Hella holding international Gmbh.
March 01, 2021
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Mando Corporation (KOSE:A204320) signed an agreement to acquire Mando-Hella Electronics Corp from Halla Holdings Corp. (KOSE:A060980) and Hella holding international Gmbh for approximately KRW 170 billion on February 3, 2021. Among the total consideration of KRW 165 billion, KRW 82.5 billion will be paid to Halla Holdings Corp. and Hella Holding International GmbH, respectively in cash. Mando Corporation will purchase in total of 2.76 million shares from Halla holding and Hella consisting 1.38 million shares each of Mando-Hella Electronics Corp . Mando-Hella generated a revenue of KRW 643.5 billion (€480 million) in the fiscal year 2019/2020. The transaction has been approved by the Halla Holdings Corp., Hella holding international Gmbh and Mando Corporation. The Board of Directors of Mando Corporation resolved the transaction. The transaction is expected to close on March 2, 2021.
Mando Corporation (KOSE:A204320) completed the acquisition of Mando-Hella Electronics Corp from Halla Holdings Corp. (KOSE:A060980) and Hella holding international Gmbh on March 2, 2021.
HL Mando Corp, formerly Mando Corp, is a Korea-based company mainly engaged in the production and sale of automobile parts. The Company produces and sells automobile parts such as brake, steering and suspension systems. The brake systems include anti-lock brake systems (ABSs), traction control systems (TCSs) and electronic stability controls (ESCs). The steering systems include steering gear systems, steering columns and electric power steering (EPS). The suspension systems include electronically controlled suspensions (ECSs) and continuous damping controls (CDCs). The Company sells products in domestic and overseas markets such as China, the United States, and India.
HL MANDO CORPORATION 
