COSON Co., Ltd. (KOSDAQ:A069110) and S & D agreed to acquire 27.4% stake in Outin Futures Co., Ltd (KOSDAQ:A227610) from Choi Young-wook for KRW 27.1 billion on February 13, 2020. As per the terms, consideration will be payable in cash and COSON Co., Ltd will acquire 2.2 million shares and S & D will acquire 0.5 million shares at KRW 9,900 per share. Down payment of KRW 2.7 billion will be paid on February 13, 2020 and balance of KRW 24.4 billion will be paid on March 30, 2020.

Choi Young-wook will own 22.05% stake in Outin post closing. The transaction is expected to be completed on March 30, 2020.