FarmStory Co., Ltd. (KOSDAQ:A027710) agreed to acquire an additional 20.28% stake in Seoul Feed Co., Ltd. from STX Corp. (KOSE:A011810) for KRW 17 billion in cash on September 5, 2014. FarmStory Co., Ltd. will acquire additional 6.2 million shares, thereby raising its stake to 93.4% in Seoul Feed Co., Ltd. The payment settlement condition is that FarmStory Co., Ltd. will pay 8 billion won on September 5, 2014, and 9 billion on October 24, 2014.

Seoul Feed reported total revenue of KRW 364.02 billion, total assets of KRW 319.68 billion, net loss of KRW 11.23 billion and total stockholders' equity of KRW 100.76 billion for the year ending, December 31, 2013. The Board of Directors of FarmStory passed the resolution for the transaction on September 5, 2014. The transaction is expected to close on October 24, 2014.