CENTROID Investment Partners agreed to acquire 72% stake in Booxen Co., Ltd. from Woongjin Co., Ltd. (KOSE:A016880) for KRW 49.3 billion on May 7, 2020. Under the terms of transaction, Centriod will acquire total 5,873,720 shares of Booxen Co., Ltd, comprising of 4,073,720 common shares and 1,800,000 preferred shares. Woongjin has the rights to repurchase the stake from Centroid within three years by exercising a call option. Woongjin Co board held a meeting to pass the resolution on May 7, 2020. Transaction is expected to close on May 15, 2020. Proceeds from transaction will be used to repay debt borrowed from OK Capital that will mature in August 2020.