Keystone Private Equity agreed to acquire Dongbu Corporation (KOSE:A005960) on May 12, 2016. The buyer was selected as the preferred bidder and United Asset Management Company Ltd. as the back-up bidder. The Board of Directors passed a resolution for the transaction on May 12, 2016.

A memorandum of understanding between Keystone Private Equity and Dongbu Corporation was signed on May 19, 2016. The transaction has been approved by the court. PricewaterhouseCoopers Korea acted as the accountant and Hyundai Securities Co.

acted as the financial advisor to Dongbu Corporation.