KC Solar Energy Co., Ltd. agreed to acquire 25% stake in Busan Shin Ho Photovoltaic Power Co., Ltd. from KC Cottrell Co., Ltd. (KOSE:A119650) for KRW 4.3 billion on April 7, 2023. As part of transaction, 420,000 shares will be acquired. For period ended December 31, 2022, Busan Shin Ho reported total assets of KRW 36.8 billion, total capital of KRW 26.8 billion, sales of KRW 10.5 billion and net profit of KRW 5.4 billion.

The transaction is expected to complete on April 10, 2023.