Woori Financial Group Inc. (KOSE:A316140) and Capstone General Private Investment Trust No. 40 managed by Capstone Asset Management Co.,Ltd. entered into a conditional sale and purchase agreement to acquire 13-storey hotel in Seoul, South Korea from MODE TOUR Real Estate Investment Trust Incorporated (KOSE:A204210) for KRW 32 billion on July 21, 2023. intends to fund the costs and expenses related to the transaction through a combination of internally generated funds and/or bank borrowings.

The transaction is expected to close on October 6, 2023. The transaction is subject to approval from shareholders of MODE TOUR Real Estate Investment Trust, approval from the Ministry of Land, Infrastructure and Transport. The agreement was signed after the receipt of satisfactory findings from due diligence investigations.