CLIO Cosmetics Co.,Ltd (KOSDAQ:A237880) agreed to acquire Doowon for KRW 7.05 billion on April 18, 2024. The consideration consists of KRW 7.05 billion in cash. As part of the consideration, KRW 7.05 billion was paid towards common equity for the acquisition of 0.005 million shares.

Doowon reported total assets of KRW 11.4 billion, total debt of KRW 4.1 billion, total capital of KRW 7.3 billion and net income of KRW 96 million for the year ending September 2023. The transaction is expected to complete on May 14, 2024.