Interpark Holdings Corporation (KOSDAQ:A035080) agreed to acquire the remaining 29.6% stake in Interpark Corporation (KOSDAQ:A108790) for KRW 21.5 billion on April 1, 2020. Under the terms, 2.46 shares of Interpark Holdings will be issued as consideration for every share of Interpark Corporation. Interpark Holdings already owns 70.4% stake in the total outstanding capital (excluding the treasury stock) of Interpark Corporation. The merger is a merger of 22.49 million shares of Interpark Corporation (including Interpark Corporation owned by Interpark Holdings Corporation). Interpark Corporation will be dissolved as a part of the transaction. After the merger, the combined company's name will be Interpark. On May 13, 2020, Interpark Holdings Corporation change its name to Interpark Corporation in relation to the transaction.

The transaction is subject to approval from shareholders of both the parties and Fair Trade Commission. The shareholder meeting is scheduled to be held on May 13, 2020. The transaction was resolved on April 1, 2020. Transaction is expected to close on July 1, 2020. As of June 30, 2020, the transaction will close on July 2, 2020. PricewaterhouseCoopers Korea, Financial Advisory Arm provided external evaluation to Interpark Holdings.