MS Autotech Co., Ltd. (KOSE:A123040) agreed to acquire an additional 32.14% stake in Myoungshin India Automotive Private Ltd for KRW 4.4 billion on December 11, 2012. MS Autotech will acquire 22.5 million shares in Myoungshin India Automotive Private Ltd. MS Autotech already had 45% stake in Myoungshin India. Following the completion of the acquisition, MS Autotech will increase its stake in Myoungshin India Automotive from 45% to 77.14%.

The deal was resolved by the Board of MS Autotech on December 11, 2012. The deal is expected to close on December 11, 2012.