MegaStudyEdu Co. Ltd (KOSDAQ:A215200) agreed to acquire an additional 12.4% stake in Ibkimyoung Co., Ltd. for KRW 1.7 billion on April 11, 2017. As part of the transaction, MegaStudyEdu Co will acquire 2.9 million shares of Ibkimyoung Co., Ltd. Upon completion, MegaStudyEdu Co. Ltd will hold 68.1% stake in Ibkimyoung Co., Ltd. For the year ended December 31, 2016, Ibkimyoung Co., Ltd. reported revenue of KRW 22.3 billion, total assets of KRW 14.5 billion, net income of KRW 122 million and net liabilities of KRW 1.6 billion. The transaction is expected to be completed by April 12, 2017.

MegaStudyEdu Co. Ltd (KOSDAQ:A215200) cancelled the acquisition of an additional 12.4% stake in Ibkimyoung Co., Ltd. on April 11, 2018.