Jeju Beer Company, Limited (KOSDAQ:A276730) singed a contract to acquire a 64.29% stake in Dalrae F&B Co., Ltd. from Seungmo Cho, and others for KRW 9 billion on June 5, 2023. As part of the transaction, Jeju Beer will acquire 1,928,572 shares by paying KRW 900 million on contract signing date and KRW 8.1 billion on September 5, 2023, by paying cash and in convertible bonds. Each seller will receive KRW 3 billion consideration amount. In 2022, Dalrae F&B reported Total assets of KRW 6.21 billion, sales of KRW 11.04 billion, Net Income of KRW 2.14 billion. The transaction is resolved by the board of Jeju Beer and expected to complete on September 5, 2023.

Jeju Beer Company, Limited (KOSDAQ:A276730) cancelled the acquisition of 64.29% stake in Dalrae F&B Co., Ltd. from Seungmo Cho, and others on September 26, 2023. Transaction is financed through Planned to issue existing equity funds and convertible bonds. Transaction is expected to complete on September 26, 2023.