Baring Private Equity Asia agreed to acquire 54% of stake in PI Advanced Materials Co., Ltd. (KOSE:A178920) from Glenwood Private Equity for KRW 1,200 billion on July 5, 2022. Baring PEA and Glenwood Private Equity would be finalizing talks to sign a stock purchase agreement (SPA) within 15 days. JP Morgan is lead managing the sale for Glendwood, and BofA Securities is advising Baring PEA in its purchase.