E&F Private Equity signed a contract to acquire 41.26% stake in CENOTEC Co., Ltd. (KOSDAQ:A222420) from Jong-Bong Kang for KRW 49.6 billion on August 17, 2017. As on August 30, 2017, E&F Marble Holdings Co.,Ltd. entered into a succession agreement to acquire 41.26% stake in CENOTEC Co., Ltd. from Jong-Bong Kang .Under the terms of the transaction, E&F Private Equity will acquire approximately 15.77 million shares of CENOTEC Co., Ltd. Under the terms of transaction, E&F Marble Holdings Co.,Ltd. will acquire 17.77 million shares for KRW 4100 each. The first payment of KRW 49.64 billion is scheduled to be paid on August 30, 2017. The second payment of KRW 15 billion is scheduled to be paid on August 31, 2017. Post-acquisition, Jong-Bong Kang will hold 10% stake in CENOTEC Co., Ltd. The transaction is expected to complete on August 30, 2017.