CP Associates Limited signed a contract to acquire 11.93% stake in CHEOUM & C Co., Ltd.(KOSDAQ:A111820) from Sang-Yeon Geum and Jun Young Chang for KRW 20.7 billion on March 22, 2017. As reported, Sang-Yeon Geum will sell 2.3 million shares and will hold 1.62 million shares, representing 8.38% stake in CHEOUM & C Co. post transaction. CP Associates Limited paid a deposit of KRW 2 billion on March 22, 2017 and shall pay balance amount of KRW 18.7 billion on extraordinary shareholders' meeting date. The full shares of 2.3 million will be transferred on the balance payment date. The scheduled change date is May 10, 2017.