This article was displayed on the ChosunBiz MoneyMove (MM) site at 3:21 p.m. on Apr. 29, 2026.
Hyundai Mobis is said to have settled on partitioning and selling its overseas bumper division. Instead of selling the entire unit to a single buyer, it plans to split it by region and sell to different bidders.
According to the investment banking (IB) industry on the 29th, UBS, the lead manager for the sale of Hyundai Mobis' overseas bumper business, received letters of commitment (LOC) from multiple bidders through the main bid the previous day.
The main bid appears to have been a success as bidders long cited in the market as strong contenders took part. Previously, the industry had mentioned France's OP Mobility, Seoyon E-Hwa and Ecoplastic as acquisition candidates.
The assets up for sale are five overseas bumper production bases located in the United States, Mexico, China, Slovakia and Brazil. The total sale price is estimated by the market at about 300 billion–400 billion won.
The industry says most of the bidders who participated in the main bid appointed KIM&CHANG. Lee & Ko is advising the sell side.
In a typical M&A competitive auction, if a particular law firm represents multiple bidders, conflicts of interest can arise. However, it is a different story if the structure is designed with a partitioned sale in mind from the outset. If the regions desired by the bidders do not overlap, no substantive competitive relationship is formed, which relatively reduces the risk of conflicts of interest even if one firm represents several bidders.
An IB industry official said, "In fact, when carrying out complex carve-out procedures, having a single law firm standardize the buyer-side guidelines can speed up the deal."
Hyundai Mobis plans to review the terms of the bidders who participated in the main bid and select a preferred negotiating partner as early as next month. The final winner is expected to be determined based on the amounts offered and the desired regions.
A Hyundai Mobis official said, "This bumper business sale is material nonpublic information," adding, "We cannot confirm the details."