HD Hyundai Oilbank to acquire Cosmo Oil's stake in HD Hyundai Cosmo and absorb the subsidiary

HD Hyundai Oilbank signed a share acquisition agreement with Japan's Cosmo Oil to acquire all shares of HD Hyundai Cosmo, a joint venture producing aromatic petrochemicals. The acquisition will be followed by an absorption merger, removing restrictions on production and enabling high-margin products. An MOU for future cooperation in SAF, circular naphtha, and CCUS was also signed.

“Through this agreement, HD Hyundai Oilbank plans to acquire all shares held by Cosmo Oil and proceed with the absorption merger process.”asiae.co.kr

• 1 source
• asiae.co.krHD Hyundai Oilbank Absorbs HD Hyundai Cosmo Merger... "Refining and Petrochemical Synergy" - The Asia Business DailyOh HyungilOct 31, 2024

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