HANKOOK Corporation Inc. (KOSDAQ:A050540) agreed to acquire 15.79% stake in Hankook Technology Inc. (KOSDAQ:A053590) from ED Co., Ltd. (KOSDAQ:A033110) and KTK Investment Fund for KRW 16.1 billion on April 25, 2017. Under the terms, HANKOOK Corporation will acquire 6.3 million shares of Hankook Technology. ED Co.

will sell 3.5 million shares for KRW 9.1 billion and KTK Investment Fund will sell 2.76 million shares for KRW 7.1 billion. Post closing, ED Co., Ltd. will hold 5.84 million shares in Hankook Technology Inc. As of May 15, 2017, Board of Directors of KTK Investment Fund resolved the transaction and secound payment of the stock acquisition has been completed. As of April 25, 2017, Board of HANKOOK Corporation Inc. resolved the transaction.

The deal is expected to close by May 15, 2017. Sangrok Accounting Corporation acted as external rating institution in the deal. As of May 15, 2017, KTK Investment Fund will get KRW 2.09 million in cash and KRW 7.08 billion in convertible bonds.

As of May 15, 2017, ED Co., Ltd. will get KRW 8.5 million in cash and KRW 9.05 billion in convertible bonds. As of May 15, 2017, the deal is expected to close by May 25, 2017. As of May 18, 2017, it is notified that ED will transfer 1.15 million shares on May 15, 2017, and 2.4 million shares on May 18, 2017 and the transaction is expected to complete on May 18, 2017.