Hyundai Dymos entered into a share purchase agreement on August 3, 2012 to acquire a 31.96% stake in Beijing Mobis Transmission from Hyundai Mobis, and received the required approval from the Beijing Standing Committee on December 7, 2012. Beijing Mobis Transmission supplies transmissions to Beijing Hyundai Motor Company, the Chinese subsidiary of Hyundai Motor Company, and Dongpoong Yeoldal Kia, the Chinese subsidiary of Kia Motors Company. As a result of the share acquisition, Hyundai Dymos is now the largest shareholder of Beijing Mobis Transmission. The total consideration was KRW 120 billion.
Shin & Kim’s Beijing office acted for Hyundai Dymos and was involved in each stage of the transaction from the preparation of the share purchase agreement to the application for the Beijing Standing Committee’s approval of the transaction.