Logistics Energy Korea Co., Ltd. (KOSE:A006490) agreed to acquire 8.73% stake in Api Meds, Inc. for KRW 2.1 billion in cash on April 11, 2014. Logistics Energy Korea Co., Ltd. will acquire 1.58 million shares. Api Meds, Inc. had total assets of KRW 6.31 billion, total liabilities of KRW 2.57 billion, total stockholders' equity of KRW 3.7 billion, capital of KRW 8.12 billion, sales revenue of KRW 23 million and net loss of KRW 1.23 billion in 2013.

Board of Directors of Logistics Energy Korea Co., Ltd. made a resolution in favor of the transaction on April 11, 2014. The transaction is expected to close on April 23, 2014.