Geumhwa Plant Service & Construction Co., Ltd. (KOSDAQ:A036190) entered into an agreement to acquire Ecorbit Engineering CO., Ltd. from KRW 85 billion on October 27, 2022. The Geumhwa Plant Service & Construction acquired 87.76 million shares of Ecorbit Engineering. The transaction is financed by Holding funds and borrowings.

Ecorbit Engineering CO., Ltd reported financials Total assets approximately KRW 110 billion, total equity KRW 6.11 million for December 31, 2021.The transaction is expected to complete on December 26, 2022.