HB Corporation signed a contract to acquire 18.99% stake in Korea Materials & Analysis Corp. (KOSDAQ:A043290) from Yi-Kyung Kim, Min-Ji Lee and Jae-Hak Lee for KRW 12 billion on August 10, 2015. HB Corporation will acquire 1.2 million shares at KRW 10,000 per share. The consideration includes deposit of KRW 1 billion immediately after contract signing, a second payment: of KRW 1.5 billion within 5 days from the completion of due diligence and the balance of KRW 9.5 billion after closing of extraordinary meeting of shareholders. The transaction is expected to close by September 23, 2015.

HB Corporation completed the acquisition of 18.99% stake in Korea Materials & Analysis Corp. (KOSDAQ:A043290) from Yi-Kyung Kim, Min-Ji Lee and Jae-Hak Lee on September 23, 2015. The consideration was funded through own funds and loan.