Sl Innovations Co.,Ltd. signed a contract to acquire 18.93% stake in Hanp Inc. (KOSDAQ:A066110) from Hanjung Networks Co., Ltd. for KRW 14 billion on June 29, 2016. Sl Innovations will acquire 1.96 million shares of Hanp at KRW 7157.32 per share. Sl Innovations paid KRW 1.4 billion as deposit on June 29, 2016 and the balance of KRW 12.6 billion will be paid later. The deal is expected to close by August 12, 2016. As of August 11, 2016, the deal is expected to close on August 11, 2016.