Nexen Tech Corp. agreed to sell 0.29% stake in Nexen Tire Corp. for KRW 4.5 billion.

Nexen Tech Corp. (KOSE:A073070) agreed to sell 0.29% stake in Nexen Tire Corp. (KOSE:A002350) for KRW 4.5 billion on November 13, 2012.

Nexen Tech will dispose 0.29 million shares of Nexen Tire Corp. On completion, Nexen Tech will hold 0.3% stake in Nexen Tire Corp. The transaction is resolved by the Board of Nexen Tech Corp.

The transaction is expected to be completed on November 13, 2012.