KG Mobility to acquire 100% of Edison Motors for KRW 55bn

SI Consumer & Retail Electric bus and commercial vehicle manufacturing

Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.

Deal value
$38m
Stake
100%
Implied 100%
$38m

Deal value ÷ stake (structure unconfirmed)

Revenue
$56m

2022 · Multiple reports agree

Op. income
—

2022 · Multiple reports agree

Multiples
PSR 0.7x

On implied equity value

Target
Edison Motors · Electric bus and commercial vehicle manufacturing
Buyer
KG Mobility · SI
Seller
Company under rehabilitation (new shares after capital reduction)
Structure
—
Announced
May 2, 2023
Closed
—
Stage
Signed

Target

Edison Motors is an electric bus maker producing large low-floor electric buses at its Hamyang plant; it filed for court rehabilitation in November 2022 and was renamed KGM Commercial after the acquisition.

Deal rationale

KG Mobility said it would expand the lineup to small and mid-size trucks and buses to overcome the limitation of large electric buses only, strengthen R&D and purchasing cooperation, expand global sales including ASEAN, and develop Edison Motors into a full-line commercial vehicle company (Aju). After court approval it described the deal as part of seeking new businesses for sustainable growth (NewDaily). The Economist Korea reported KG expected to secure electric-bus technology and sales networks it lacked.

회생·채권단 매각신사업 진출
Revenue$56m
Operating income—
EBITDA—
Net income—

2022 · Multiple reports agree (not yet checked against DART)

Press coverage

  • 아주경제 (2023-07-03): “에디슨모터스 … 인수대금은 550억원”
  • 뉴스토마토 (2023): “전기버스 품은 KG모빌리티”
  • 뉴데일리경제 (2023-09-26): “에디슨모터스 인수는 지속 가능한 기업으로의 성장발전을 위한 신규사업 모색의 일환”
  • 이코노미스트 (2023-06-29): “KG모빌리티가 보유하지 않은 전기버스 기술력과 영업망 등을 확보하고 있다”
  • 비즈워치 (2024-07-30): “2022년 KGMC의 매출은 약 816억원이었다”

This is a data entry summarising filings and press reports. Please check the original sources for the figures.