DST Robot Co., Ltd. (KOSDAQ:A090710) signed a memorandum of understanding to acquire 29.45% stake in Sambu Construction Co., Ltd. (KOSE:A001470) for KRW 20 billion on June 26, 2017. DST Robot Co., Ltd. has been selected as a preferred bidder for the transaction. As on August 17, 2017, DST Robot Co., Ltd. signed a mergers and acquisition and investments contract to acquire 29.45% stake in Sambu Construction Co., Ltd. DST Robot Co., Ltd. will acquire 2.8 million shares of Sambu Construction Co., Ltd. and will pay the consideration in cash.

The transaction will be finalized with the permission of the court. The transaction has been resolved by the Board of Directors of DST Robot Co., Ltd on August 17, 2017. As on August 17, 2017, Sambu Construction Co., Ltd. received the permit/approval of the Seoul Bankruptcy Court.

As on September 15, 2017, the balance payment for the transaction was received. The transaction is expected to complete on September 15, 2017.