COSON Co., Ltd. (KOSDAQ:A069110) agreed to acquire 51.9% stake in Designed Cell Co., Ltd. from a group of shareholders for KRW 15.6 billion on October 29, 2020. Under the terms, COSON will acquire 18,333 shares of Designed Cell and will pay consideration in cash and issue the 16th convertible bond. The consideration of KRW 11.5 billion paid as down payment and the remaining balance will be paid on closing of this transaction. In 2019, Designed Cell reported total assets of KRW 1.7 billion, total liabilities of KRW 1.5 billion, total equity of KRW 156 million, capital of KRW 176 million, sales of KRW 556 million and net loss of KRW 488 million. The Board of COSON resolved this transaction on October 29, 2020. The transaction expects to close on November 30, 2020. As of November 30, 2020, the transaction is now expected to close on December 30, 2020. As on December 29, 2020, this transaction expects to close on January 29, 2021. As on January 28, 2021, the transaction was postponed to February 26, 2021.