IMM Private Equity, Inc. signed a memorandum of understanding to acquire a 30.21% stake in Hanssem Co., Ltd. (KOSE:A009240) from a group of shareholders for KRW 1.1 trillion on July 14, 2021. Imm Rosegold IV Private Equity Fund, managed by IMM Private Equity, Inc. entered into a share purchase contract to acquire a 30.21% stake in Hanssem Co., Ltd. (KOSE:A009240) from a group of shareholders on October 25, 2021. Sellers include Jo Chang-geol, the largest shareholder, and 7 related parties.

Under the transaction, IIM will acquire shares at a price of KRW 220,000 per share. Lotte Shopping Co. has been chosen by IMM Private Equity (IMM PE) over industrial and interior material giant LX Hausys as the fund's strategic partner and will invest KRW 299.5 billion in a fund IMM PE fund devoted to the Hanssem buyout.

After signing this MOU, the final contents of the share transfer contract will be determined through due diligence and negotiations on specific transaction conditions. As of September 7, 2021, IMM expected to sign a stock purchase agreement with Hanssem next week. As of October 21, 2021, IMM expected to sign a stock purchase agreement with Hanssem next week.

As of October 25, 2021 board of directors of Hanssem approved the transaction. Transaction is expected to close on December 31, 2021.