Hansol Chemical Co., Ltd. (KOSE:A014680) signed a memorandum of understanding to acquire 53.97% stake in Tapex Co., Ltd. from TPX LLC 1 and TPX LLC 2, funds of SkyLake Investment Co. on February 25, 2016. Hansol Chemical Co., Ltd. will acquire 2.3 million shares of Tapex Co., Ltd. Hansol Chemical Co., Ltd. was selected as the preferred bidder. As of May 19, 2016, stock purchase agreement was signed. The total contract price is KRW 130 billion which is to be paid as deposit of KRW 12.5 billion on May 20, 2016 and balance within 5 business days after the approval of the Fair Trade Board Business Consolidation Report. The deal is expected to close by May 30, 2016.

Hansol Chemical Co., Ltd. (KOSE:A014680) cancelled the acquisition of 53.97% stake in Tapex Co., Ltd. from TPX LLC 1 and TPX LLC 2, funds of SkyLake Investment Co. on February 25, 2017.