Daeho Al Co.,Ltd. (KOSE:A069460), Basan Invest Co., Ltd. and Bhk Investment Co., Ltd. entered into a contract to acquire an additional 47.79% stake in Neo Cremar Co., Ltd. (KOSDAQ:A311390) from Jaehwan Kim, Hyeyoung Yoon and Sangmin Kim for KRW 59.9 billion on November 29, 2021. Daeho, Basan Invest and Bhk Investment willl acquire 1,463,600 shares (19.97%), 1,348,700 shares (18.40%) and 690,000 shares (9.42%) at a price of KRW 17,100 per share, respectively. Jaehwan Kim, Hyeyoung Yoon and Sangmin Kim will sell 2,788,300 shares (38.05%), 504,000 shares (6.88%) and 210,000 shares (2.86%) respectively.

KRW 10.8 billion will be paid on November 29, 2021 and remaining KRW 49.1 billion, when transaction is closed. Transaction is expected to complete on January 19, 2022. As of January 5, 2022, transaction is expected to complete on February 24, 2022.

As on Feb 23, 2022, the transaction is expected to complete on March 4, 2022.