SeAH Steel Holdings Corporation (KOSE:A003030) made an offer to acquire an additional 51.12% stake in SeAH Steel Corporation (KOSE:A306200) for KRW 86.6 billion on November 7, 2018. Under the terms, SeAH Steel Holdings Corporation will acquire 1.45 million shares of SeAH Steel Corporation at KRW 59,700 per share and pay the consideration through issuance of own shares. SeAH Steel Holdings Corporation will make the payment on December 28, 2018.

As per the amendment report dated December 4, 2018, SeAH Steel Holdings Corporation will issue 1.1443139 share for every one share of SeAH Steel Corporation. Prior to the transaction, SeAH Steel Holdings Corporation held 0.09 million shares amounting to 3.1% stake and after the transaction, SeAH Steel Holdings Corporation will hold 1.54 million shares amounting to 54.22% stake in SeAH Steel Corporation. The tender offer period is from December 6, 2018 to December 26, 2018.