Huayi Brothers Korea Co., Ltd. (KOSDAQ:A204630) agreed to acquire 75% stake in Merry Christmas for KRW 9.5 billion on May 14, 2018. Payment will be made in cash. A total of 0.3 million shares will be acquired as part of the deal. Consideration will be paid in tranches wherein 0.17 million shares will be acquired for KRW 5.29 billion on May 23, 2018 and the remaining shares will be acquired on July 23, 2018 for KRW 4.2 billion. Board of Huayi Brothers Korea resolved in favor of the deal on May 14, 2018. Deal is expected to close on July 23, 2018.