ED Co., Ltd. (KOSDAQ:A033110) agreed to acquire 43.36% stake in GnB Education Co., Ltd. for KRW 10 billion on March 7, 2018. The consideration will be satisfied by cash. Under the terms, ED Co., Ltd will acquire 4.9 million shares. ED Co., Ltd. will pay a deposit KRW 1 billion and the balance KRW 9 billion will be paid on the ordinary shareholders' meeting held on March 13, 2018. The payment date of the remaining balance has changed upon changes in the general meeting of shareholders of GnB Education Co., Ltd. The payment of the remaining consideration KRW 9 billion (90% of the consideration) was made to the corresponding escrow account in accordance with the deposit agreement between them at the first general meeting of shareholders on March 13, 2018. The Board of Directors passed a resolution on the transaction on March 7, 2018. The transaction is expected to complete on March 13, 2018. As per the new terms of amendment dated March 14, 2018, transaction is expected to complete on March 15, 2018. As per the new terms of amendment dated March 15, 2018, transaction is expected to complete on March 21, 2018. ED Co., Ltd. (KOSDAQ:A033110) cancelled the acquisition of 43.36% stake in GnB Education Co., Ltd. on March 7, 2019.