Complete Sale of Subsidiary Circuit Foil Luxembourg for 301.4 Billion Won
- Decision to sell all shares (1,402,873 shares) of subsidiary Circuit Foil Luxembourg held by Volta Energy Solutions S.a r.l. for 301,398,807,419 won (board resolution on 2026.01.21). Transaction closed on 2026.04.28 after fulfilling conditions including government approvals.
- Sale amount represents 14.49% of parent company (Solus Advanced Materials) consolidated total assets as of end-2024 (2,079,395,108,546 won). Purpose is business portfolio efficiency and securing funds for battery foil investment.
- Target company (Circuit Foil Luxembourg) recorded net losses for three consecutive years (2022-2024): 2024 -1,666 million won, 2023 -7,027 million won, 2022 -4,015 million won.
- After disposal, Solus Advanced Materials holds 0% stake in Circuit Foil Luxembourg. Volta Energy Solutions S.a r.l. remains a major subsidiary with assets equal to 72.90% of parent's consolidated total assets.
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KOSPI Filing Information
- Filing: [Correction of Description] Decision on Disposal of Stocks and Equity Securities of Other Corporations (Major Management Matters of Subsidiary)
- Company: Solus Advanced Materials (336370)
- Submission: Solus Advanced Materials Co., Ltd.
- Receipt: 04-28-2026
- Under KRX KOSPI Market Division