Youngwire Co., Ltd. (KOSE:A012160) signed a contract to acquire 41.5% in Daeho P&C Co.,Ltd (KOSDAQ:A021040) from Daeho Co., Ltd. and J & Company for KRW 31.9 billion on October 29, 2020. As per terms, 30.3 million shares will be acquired in cash. The sellers will sell 9.7 million shares and 20.6 million shares respectively.

10% of the consideration will be paid as down payment on the date of contract conclusion and balance at the end of the transaction after meeting the prerequisites. For acquisition fund, 16.88 billion will be paid from self-funded and KRW 15 billion will be paid through the borrowings from Korea Development Bank. The deal is expected to close on January 28, 2021.

As of January 13, 2021, the transaction is expected to close on January 20, 2021.