IDIS Holdings Co., Ltd. (KOSDAQ:A054800) signed a contract to acquire 40.7% stake in Bixolon Co., Ltd (KOSDAQ:A093190) from Hyunggeun Kim, Jungbok Jeon, Kyunghwan Na and Janghwan Kim for KRW 99.7 billion on October 31, 2017. As per the transaction, IDIS Holdings Co., Ltd. will acquire 7.8 million shares of Bixolon Co., Ltd. in cash. The sellers will respectively sell 7.02 million, 0.56 million, 0.04 million and 0.2 million shares and will not hold any stake upon completion.

A deposit of KRW 20 billion is already paid and upon payment of balance amount, the shares will be transferred by sellers. The consideration will be funded from borrowings or loans of KRW 100 billion. The Board of Directors resolved the deal on October 31, 2017.

The extra ordinary shareholders meeting will be held on December 19, 2017. Youngdal Kim and Hyunchul No were approved to be internal Directors and Changhaeng Heo was approved to be external Director in the shareholder meeting on December 19, 2017. The deal is expected to close on December 19, 2017.

Nexia-Samduk acted as external rating institution.