GL Pharm Tech Corp. (KOSDAQ:A204840) agreed to acquire a 32.1% stake in Crown Pharmaceutical Co., Ltd. from Seungho Shin for KRW 1.4 billion on November 15, 2017. Under the terms, GL Pharm Tech Corp. will acquire 0.05 million shares of Crown Pharmaceutical. The consideration will be paid in cash with deposit of KRW 500 million and the balance of KRW 937.6 million to be paid on November 15, 2017. Crown Pharmaceutical Co., Ltd. had total assets of KRW 14.46 billion, total capital of KRW 687 million, sales of KRW 6.15 billion and net loss of KRW 1.58 billion in the current year. The transaction was resolved by the Board of Directors of GL Pharm Tech Corp. on November 15, 2017. Scheduled acquisition date is November 15, 2017. Hyorim Accounting Corporation acted as an external rating institution in the transaction.