Creas F&C Co.,Ltd agreed to acquire a 21.77% stake in Kukdong Corporation (KOSE : A005320) from The Y Holdings, Inc. for KRW 34 billion.

Creas F&C Co.,Ltd (KOSDAQ:A110790) agreed to acquire 21.741398% stake in Kukdong Corporation (KOSE : A005320) from The Y Holdings, Inc. for KRW 34 billion on July 11, 2022. The down payment of KRW 19 billion was made at signing of agreement and remaining KRW 15 billion will be paid at closing. Upon closing, Creas will own approximately 21.77% stake and The Y Holdings will hold no stake in Kukdong.

The consideration will be funded from own funds. The transaction will be completed on August 17, 2022.