An undisclosed buyer agreed to acquire 95.00216% stake in Myoung Shin India Automotive Private Limited from MS Autotech Co.,Ltd for KRW 32 billion.

MS AUTOTECH CO.,LTD is a Korea-based company engaged in the manufacture and sale of automobile parts. The Company's products consist of floor parts, including front side member completes, center floor completes, rear floor completes and others; moving parts, including doors, trunk lids, tail gates and hoods, and side parts, including reinforcement side outers, panel side outers, reinforcement side inner assemblies, quarter inner assemblies and wheel house inner assemblies. The Company’s main clients are Hyundai Motor and Kia Motor. The Company distributes its products within domestic market and to overseas markets.