An unknown buyer agreed to acquire 10% stake in Chobi Company Limited (KOSE:A001550) from Kyung Nong Corporation (KOSE:A002100) for KRW 15.7 billion on August 4, 2021. Under the terms Kyung Nong Corporation will sell 0.51 million shares. Post acquisition Kyung Nong Corporation will hold 54.56% stake in Chobi Company Limited. The transaction has been resolved and approved by the board of Kyung Nong Corporation. The transaction is expected to close on August 4, 2021.

An unknown buyer completed the acquisition of 10% stake in Chobi Company Limited (KOSE:A001550) from Kyung Nong Corporation (KOSE:A002100) on August 4, 2021.