Acquisition of VES Shares Worth KRW 78.35 Billion, Stake Increases to 59.55% via Put Option Exercise
Solus Advanced Materials decided to acquire 3,490,000 shares (5.24% stake) of Volta Energy Solutions (VES) from existing shareholder LG Energy Solution for approximately KRW 78.35 billion. Post-acquisition stake increases to 59.55%.
The acquisition results from an investor's put option exercise, thereby terminating the existing put option agreement.
The expected acquisition date is November 30, 2026, with completion upon final payment.
VES's recent financials (2025, unaudited): Total assets KRW 1.58 trillion, liabilities KRW 403.2 billion, equity KRW 1.18 trillion, net loss KRW 7.13 billion.
KOSPI Filing Information
Filing: [Correction of Description] Decision on Acquisition of Stocks and Equity Securities of Other Corporations