Kolmar Korea Co., Ltd. (KOSE:A161890) agreed to acquire a 55% stake in Yonwoo Co., Ltd (KOSDAQ:A115960) from Ki Joong-hyun and Kim Yeo-ok for approximately KRW 280 billion on April 13, 2022. Under the terms, Kolmar Korea will pay down payment of KRW 14.32 billion on Contract signing date and the balance or approxaimately KRW 270 billion on closing date to Ki Joong-hyun and the spouse Kim Yeo-ok. As per the revised terms, Kolmar Korea will pay KRW 41,266 per share. Funding method is reserved funds and borrowed money. About KRW 140,000 million money borrowed from Export-Import Bank of Korea. Following transaction, Ki Joong-hyun will hold 5.3% stake and Korea Kolmar will have 55% stake in Yonwoo. Board of directors of Kolmar have resolved the transaction. The transaction is expected to be closed by June 30, 2022. The transaction is now expected to close on July 1, 2022.

Kolmar Korea Co., Ltd. (KOSE:A161890) completed the acquisition of 55% stake in Yonwoo Co., Ltd (KOSDAQ:A115960) from Ki Joong-hyun and Kim Yeo-ok on July 1, 2022.