E& Corporation CO., LTD. (KOSDAQ:A066980) signed a contract to acquire 80% stake in Daeyang Enbio Co., Ltd from group of shareholders for KRW 18 billion on October 28, 2021. Consideration was paid in cash for acquiring 0.068 million shares of Daeyang Enbio for expansion of new business and synergy with existing business. Consideration will be paid in installments as KRW 1.8 billion will be paid as down payment and Interim payment of KRW 7.2 billion will be paid on November 30, 2021 and payment date of balance of KRW 9 billion will be paid on December 20, 2021. For year ended December 31, 2020, Daeyang Enbio had total assets of KRW 184.4 billion. Board passed resolution on October 28, 2021.Transaction is expected to close on December 20, 2021.