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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] LG Chem has once again postponed its planned acquisition of an additional 20% stake in LG Toray Hungary Battery Separator Kft (LTHS), a joint venture with Japan’s Toray Industries. This marks the second delay in the transaction, originally scheduled for June 30.
According to a regulatory filing submitted to the Financial Supervisory Service on May 30, LG Chem has rescheduled the stake acquisition to December 19, 2025. The decision is seen as reflecting the current downturn in the petrochemical and battery industries as well as weakened investor sentiment.
LTHS, based in Hungary, was established as a 50:50 joint venture between LG Chem and Toray in June 2022 to produce battery separators for electric vehicles. LG Chem acquired an initial 50% stake at the time. In December 2023, the company planned to acquire an additional 20% stake, aiming to become the majority shareholder with 70% ownership.
Toray had intended to complete the transfer of its stake by the end of this year, but the latest postponement pushes the deal into late 2025.
Industry analysts suggest that LG Chem may be exercising caution amid persistent market uncertainty, prioritizing capital efficiency and reassessing investment strategies across its global battery materials business.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
