Namyeung Vivien Corporation (KOSE:A002070) entered into an agreement to acquire 26.14% stake in POBIS TNC CO., Ltd (KOSDAQ:A016670) from MiraeING.Co.,Ltd. (KOSE:A007120), NK Mulsan CO., LTD. (KOSE:A009810) and Hana Mulsan Co., Ltd. for KRW 58 billion on February 28, 2020. Namyeung Vivien Corporation will acquire 11.31 million shares at KRW 5129.5 per share. Namyeung Vivien Corporation will acquire 9.78 million shares from MiraeING.Co.,Ltd. (22.6% stake), 1.13 million shares from NK Mulsan CO., LTD. (2.61% stake) and 0.4 million shares from Hana Mulsan Co., Ltd. (0.92% stake).

As per the terms of the transaction, Namyeung Vivien Corporation will make the down payment of KRW 4.5 billion by February 28, 2020, Intermediate Plating of KRW 38.5 billion on March 23, 2020 and balance amount of KRW15 billion on March 24, 2020. The deal is funded from own fund of KRW 5 billion and borrowings of KRW 52.5 billion. The transaction is expected to complete on March 24, 2020.

As of March 23, 2020, transaction is expected to complete on March 31, 2020. As of March 31, 2020, the transaction is expected to be completed by April 3, 2020. External evaluation is done by Washing Accounting Firm