REORIENT Group Limited, Investment arm and management team of EQ entered into an agreement to acquire 59.8% stake in EQ Partners from Dong-Ah Tire & Rubber Co., Ltd. (KOSE:A007340) on February 15, 2013. Under the terms of the agreement, REORIENT Group Limited will acquire 0.07 million shares equivalent to 33.22% stake in EQ Partners for KRW 4.5 billion in cash. Management team will acquire 0.06 million shares in EQ Partners. The purchase price payable by the management team was determined based on substantially similar terms to the Reorient target shares. At completion, the Board of Directors of EQ Partners shall consist initially of three Directors, whereby one Director will be nominated by REORIENT Group and one Director will be nominated by the other buyer. EQ Partners reported net loss before and after taxation of KRW 614.88 million and KRW 365.79 million respectively and net assets value of KRW 12.85 billion for the year ended December 31, 2012.

The transaction is subject to the condition that Kim Jong Hoon James will remain employed with management team of EQ Partners and EQ Partners not having incurred any obligation under key person provisions contained in the organization or governing agreements of the funds managed or advised by it to give any notice, seek consent or replace any key person under such provisions and the execution and delivery of the share pledge agreement by the management team in favor of Dong-Ah, as security for financing of the purchase price for unknown buyer's shares provided by Dong-Ah. The Directors of REORIENT Group consider that the terms of the acquisition are fair and reasonable and in the interests REORIENT Group and its shareholders as a whole. The completion of the transaction shall take place on the on the second business day when all the conditions precedent have been fulfilled (or waived).

REORIENT Group Limited, Investment arm and management team of EQ completed the acquisition of 59.8% stake in EQ Partners from Dong-Ah Tire & Rubber Co., Ltd. (KOSE:A007340) on February 28, 2013.