CENTROID Investment Partners signed an agreement to acquire 87.32% stake in South Springs Co.,Ltd from BGF Co., Ltd. for approximately KRW 150 billion.

CENTROID Investment Partners signed an agreement to acquire 87.32% stake in South Springs Co.,Ltd from BGF Co., Ltd. (KOSE:A027410) for approximately KRW 150 billion on December 28, 2020. BGF Co., Ltd. will dispose 26.02 million shares in South Springs Co.,Ltd. For the year ended 2019, South Springs Co.,Ltd reported total assets of KRW 166.52 billion, total equity of KRW 125.71 billion, revenues of KRW 11.85 billion and net income of KRW 1.94 billion. The transaction is expected to complete on February 26, 2021.

As of February 15, 2021, the transaction is expected to close on March 5, 2021.