Hyundai Mobis Wins Approval for Lamp Business Spin-Off; Signs Definitive Sale Agreement with France’s OPmobility

[Financial News] Hyundai Mobis announced on the 30th that it had signed a share purchase agreement (SPA) with French auto parts maker OPmobility for the sale of its lamp business.
Hyundai Mobis held an extraordinary board meeting that day and approved a plan to spin off its lamp business division into a wholly owned subsidiary. The effective date of the spin-off is April 1, 2027, after which Hyundai Mobis plans to transfer the business division to OPmobility. The employment of employees subject to transfer, along with all associated rights and obligations, will be transferred to the new entity.
Hyundai Mobis explained that the decision is intended to strengthen the independent management, expertise and external competitiveness of the lamp business being sold, while also enhancing the competitiveness of its new growth engines and core businesses. The company added that the move would mark a turning point in strengthening its business structure for the transition to future mobility and contribute to improving corporate and shareholder value.
The two companies signed a memorandum of understanding (MOU) in January for the transfer of the lamp business division. Hyundai Mobis said it had since continued negotiations on details such as the transaction structure and plans for separating the business, and had also explained the process to employees.
A Hyundai Mobis official said, "We plan to proceed in earnest with follow-up procedures to ensure the stable spin-off of the lamp business and establish a new operating structure." The official added, "We will also complete, in sequence, the remaining procedures required for the sale, including a shareholders’ meeting and a business combination filing."
[email protected] Kim Dong-chan Reporter