KHAN CO., LTD. entered into a memorandum of understanding to acquire a 50.03% stake in Oriental Precision & Engineering Co., Ltd. (KOSDAQ:A014940) for KRW 30 billion on February 17, 2017. KHAN CO. will acquire 20,272,981 shares at the price of KRW 1,480 per share in the deal. KHAN CO. was chosen as a preferred bidder and will pay a performance bond worth KRW 1.5 billion on February 17, 2017. The definitive contract is expected to be signed within 5 business days from the day the stock sales/acquisition price is confirmed deposit of 10% of the purchase price will be made on contract signing date. The schedule for balance 90% of purchase price is yet to be determined and may be adjusted during the verification survey process. Samjung Public Account Firm provided services in connection with the deal.