Kanohi Co., Ltd. signed a contract to acquire 25.08% stake in Gentro Co., Ltd. (KOSDAQ:A083660) from Goldenpow Co. Ltd. and another shareholder for KRW 10 billion on October 20, 2015. Kanohi will acquire 2.18 million shares of Gentro.

Kanohi will pay KRW 1 billion as deposit at the time of contract, KRW 5 billion after completing due diligence and the balance KRW 4 billion upon resolution of all agendas requested by Kanohi in the extraordinary meeting of shareholders. The 1.2 million shares of Gentro will be issued to Kanohi once the second payment is paid and 0.98 million shares will be issued to Kanohi once the balance payment is paid. As on October 28, 2015, the terms of the contract were amended wherein, Kanohi Co., Ltd. along with 22 other individuals will acquire stake in CSA Cosmic Co., Ltd. The deal is expected to close by October 28, 2015.

As of October 28, 2015, the deal was completed for 11 individuals.