IHQ Inc. (KOSE:A003560) agreed to acquire an additional 26.43% stake in Asia Investment Co., Ltd. from Young Nam Flour Mills Co. Ltd. (KOSE: A002680) for KRW 3 billion in cash on September 17, 2013. Under the terms of the agreement, Young Nam will sell 0.37 million shares of Asia Investment.

Post transaction, IHQ Inc.'s stake in Asia Investment will increase to 52.86%. Asia Investment reported total assets of KRW 6.59 billion, total liabilities of KRW 271 million, total stockholder's equity of KRW 6.32 billion, sales revenue of KRW 1.78 billion and net profit of KRW 389 million for year ended 2012. The scheduled completion date of transaction is September 27, 2013.