Fructus Corp signed a contract to acquire 25.82% stake in DB Lightec Co., Ltd. (KOSDAQ:A045890) from DB Inc. (KOSE:A012030) and DB HiTek Co.,Ltd. (KOSE:A000990) for KRW 13.6 billion on October 26, 2018. Under the terms, Fructus will pay KRW 1.44 billion as deposit on October 26, 2018 and the remaining balance of KRW 12.2 billion will be paid 3 business days before the extraordinary meeting of shareholders. Fructus will acquire 6.9 million shares in which DB HiTek and DB Inc will sell 4 million shares (14.99%) and 2.9 million shares (10.83%) respectively in DB Lightec. Post completion of the transaction, DB HiTek and DB Inc will cease to hold any stake and Fructus Corp will hold 25.82% stake in DB Lightec Co., Ltd. Fructus Corp will use KRW 3.8 billion as own funds and KRW 9.8 billion as borrowed funds to fund this transaction. The transaction is expected to be completed by December 5, 2018.

Fructus Corp completed the acquisition of 25.82% stake in DB Lightec Co., Ltd. (KOSDAQ:A045890) from DB Inc. (KOSE:A012030) and DB HiTek Co.,Ltd. (KOSE:A000990) on December 5, 2018. The purchase price was funded using Fructus Corp's capital and borrowings. Following the completion, Fructus Corp became the largest shareholder of DB Lightec Co., Ltd. Extraordinary shareholders' meeting will be held on December 10, 2018 wherein new officers will be selected for DB Lightec Co., Ltd.