KCS Trading Co., Ltd. and Meister Private Equity signed a stock transfer agreement to acquire 24.9% stake in Infraware, Inc. (KOSDAQ:A041020) from Selvas AI Inc. (KOSDAQ:A108860) and Young Kwak for KRW 20.9 billion on December 11, 2019. As per terms, KCS Trading Co., Ltd. will acquire 3.74 million shares and Meister Private Equity will acquire 5.609 million shares at KRW 2,246 per share. The transaction is expected to close on January 17, 2020.

KCS Trading Co., Ltd. and Meister Private Equity cancelled the acquisition of 24.9% stake in Infraware, Inc. (KOSDAQ:A041020) from Selvas AI Inc. (KOSDAQ:A108860) and Young Kwak on January 17, 2020. The agreement was terminated because KCS Trading Co., Ltd. and Meister Private Equity were unable to pay the consideration.