Global Bio Fund entered into an agreement to acquire 44.9% stake in Genome Biologics Asia Pacific Co., Ltd. from HANKOOK Corporation Inc. (KOSDAQ:A050540) for KRW 10.6 billion on March 17, 2020. Under the terms, KRW 500 million will be paid on March 17, 2020 and KRW 10 billion will be paid on closing. The consideration will be paid in cash. Genome Biologics reported total assets worth KRW 1.5 billion and net assets of KRW 52.1 million in year 2019. The transaction is expected to close on June 17, 2020. As of June 17, 2020, transaction is expected to close on July 30, 2020. Samil PricewaterhouseCoopers acted as evaluator in the transaction.