S&K Polytec Co., Ltd. (KOSDAQ:A091340) entered into an agreement to acquire NewPort Display Co. Ltd. from Booyoung Han and Jongmin Kim for KRW 20 billion on October 12, 2016. Under the terms of the transaction, S&K Polytec will acquire 3.2 million shares. The consideration will be paid in two installments with KRW 2 billion on agreement signing date and KRW 18 billion on closing date. NewPort Display reported total assets of KRW 34.08 billion, total liabilities of KRW 23.5 billion, sales of KRW 118.35 billion, and net profit of CNY 2.7 billion for the year ending December 31, 2015. The transaction is expected to close on October 28, 2016.

S&K Polytec Co., Ltd. (KOSDAQ:A091340) completed the acquisition of NewPort Display Co. Ltd. from Booyoung Han and Jongmin Kim in October 2016.