Hangaridam No. 1 Fund and Bouvardia Fund agreed to acquire 16.70% stake in Westrise Co., Ltd. (KOSDAQ:A064090) from BENO TNR, Inc. (KOSDAQ:A206400) for KRW 27.4 billion on June 17, 2024. A cash consideration of KRW 27.45 billion will be paid by Hangaridam No.

1 Fund and Bouvardia Fund. As part of consideration, KRW 27.45 billion is paid towards common equity of Westrise Co., Ltd. For the period ending December 31, 2023, Westrise Co., Ltd. reported total revenue of KRW 6.9 billion and net loss of KRW 6.99 billion. As of December 31, 2023, Westrise Co., Ltd. reported total debt of KRW 23.94 billion, total assets of KRW 60.24 billion and total common equity of KRW 36.29 billion.

The expected completion of the transaction is July 24, 2024.