[Alpha Biz= Reporter Kim Jisun] Hyundai GF Holdings, the holding company of the Hyundai Department Store Group, will conduct a public tender offer to acquire a 15% stake in its affiliate, Hyundai Ezwel.
According to the retail industry on the 10th, Hyundai GF Holdings will offer to buy 3.561 million shares of Hyundai Ezwel’s common stock between November 11 and 30. This represents 15% of Hyundai Ezwel’s outstanding shares.
The tender offer price is set at 7,000 won per share, which is higher than the closing price of 6,050 won on November 8.
Hyundai GF Holdings currently holds a 35% stake in Hyundai Ezwel, and upon completion of the tender offer, it will increase its ownership to 50%.
Hyundai Ezwel operates a corporate welfare mall that serves over 4 million employees from various companies and public institutions.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
