Doosan Heavy Industries & Construction Co., Ltd. (KOSE:A034020) agreed to acquire remaining 4% stake in Doosan Engineering & Construction Co., Ltd. (KOSE:A011160) for KRW 17.4 billion on December 12, 2019. Doosan Heavy Industries & Construction Co., Ltd. will issue 0.248 shares for every one share of Doosan Engineering & Construction Co., Ltd. Post completion, Doosan Engineering & Construction Co., Ltd. will become wholly owned subsidiary of Doosan Heavy Industries & Construction Co., Ltd. The expected date of delisting of common stocks under this stock exchange is March 24, 2020. Shareholders meeting is scheduled on February 7, 2020.

The Board of Directors has resolved the transaction. The transaction is expected to close on March 10, 2020.