# 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.

- Type: Acquisition
- Announced: 2024-10-31
- Where: South Korea
- Status: announced
- Products: aromatic products (BTX), paraxylene, special diesel, light diesel, high-quality gasoline
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [HD Hyundai Oilbank](https://endata.com/companies/80674.md) (acquirer)
- [Cosmo Oil](https://endata.com/companies/80675.md) (partner)
- [HD Hyundai Cosmo](https://endata.com/companies/80676.md) (target)

## Sources

- [asiae.co.kr](https://www.asiae.co.kr/en/article/2024103114153782399), 2024-10-31: "Through this agreement, HD Hyundai Oilbank plans to acquire all shares held by Cosmo Oil and proceed with the absorption merger process."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.