Dongnam Marine Crane Co., Ltd. (KOSDAQ:A101000) agreed to acquire an 80% stake in JPL Co., Ltd. from Kyungbong Ri for KRW 9 billion on December 28, 2016. Dongnam Marine will acquire 0.13 million shares of JPL. JPL Co. had total assets of KRW 3.48 billion and revenue of KRW 2.64 billion in 2015. The acquisition will be funded with KRW 4 billion in convertible bonds. On January 6, 2017, the Board of Directors of Dongnam Marine Crane Co. passed a resolution regarding the issuance of convertible bonds. The transaction is expected to complete on January 9, 2017. Dongnam Marine Crane Co., Ltd. (KOSDAQ:A101000) completed the acquisition of 80% stake in JPL Co., Ltd. from Kyungbong Ri on January 9, 2017.