PNCGLOBAL. CO. KR entered into a contract to acquire 98.99% stake in P.T. Daekyung Indah Heavy Industry from Daekyung Machinery & Engineering Co., Ltd. (KOSE:A015590) for KRW 13.4 billion on July 17, 2015.

Under the terms of the transaction, Daekyung Machinery & Engineering will sell 0.08 million shares of PT Digi Indonesia. For the year ended December 31, 2014, P.T. Daekyung Indah Heavy Industry had total assets of KRW 27774 million. The Board of Daekyung Machinery & Engineering passed a resolution for the transaction on July 17, 2015.

The deal is expected to complete on July 31, 2015.