Vitzro Tech Co., Ltd. (KOSDAQ:A042370) agreed to acquire an additional 14.23% stake in Vitzrocell Co., Ltd (KOSDAQ:A082920) from Soon-Sang Jang and Beom-Su Jang for KRW 25.3 billion on July 27, 2016. Under the terms of the transaction, Vitzro Tech Co., Ltd. will acquire 2.1 million shares of Vitzrocell in the deal. Soon-Sang Jang will sell 2.1 million shares and Beom-Su Jang will sell 0.01 million shares of Vitzrocell in the deal. The consideration will be paid by issuance of new stock of Vitzro Tech Co. on August 30, 2016. Post-completion, Vitzro Tech Co will hold 5.4 million shares representing 36.4% stake in VITZROCELL. The Board of Vitzro Tech Co resolved the deal on July 27, 2016. The expected closing date is August 30, 2016. Jinil Accounting Corporation acted as an external rating Institution. Scheduled stock transfer date has been amended to September 1, 2016.

Vitzro Tech Co., Ltd. (KOSDAQ:A042370) completed the acquisition of additional 14.23% stake in Vitzrocell Co., Ltd (KOSDAQ:A082920) from Soon-Sang Jang and Beom-Su Jang on September 1, 2016.