Sale of Futronic to Blackstone and Autronic’s Acquisition of a Stake in Smotronic

Lee & Ko represented founder and Chairman Jin Ho Ko and his related parties in the sale of a 100% equity interest in Futronic to Blackstone, a global private equity firm. Futronic manufactures automotive electronic and information and communications technology products, including high-precision actuators. The transaction was one of the notable private equity deals in Korea’s automotive parts and electronics sector in 2026. In connection with Blackstone’s acquisition of Futronic, a corporate restructuring was implemented under which Futronic sold its entire 28.91% stake in KOSDAQ-listed Smotronic to Autronic, a company controlled by Chairman Koh and the sellers. Following completion of the merger control process, the two transactions will be closed concurrently in or around September 2026.

The transaction required careful alignment of complex stakeholder interests and sophisticated structuring because it contemplated an ongoing partnership between the selling shareholders and Blackstone. Chairman Ko would remain CEO of Futronic and be involved in the management of Futronic after closing. Lee & Ko represented the sellers and provided comprehensive legal counsel, including legal due diligence relating to Futronic and the drafting and negotiation of the share purchase agreement, shareholders agreement, CEO appointment agreement and various ancillary agreements. In parallel, Lee & Ko advised Autronic on the sale and purchase of the Smotronic stake, including review of the share purchase agreement, disclosure-related advice and the required board and shareholder approval procedures. By carefully coordinating the intentions and interests of multiple stakeholders within a tight timeframe and reflecting them in the transaction structure and related agreements, Lee & Ko played a central role in bringing successful progress of the transaction.