Ildong Holdings Co., Ltd. (KOSE:A000230) acquired 5.18% stake in Ildong Pharmaceutical Co., Ltd. (KOSE:A249420) from Il-dong Foods Co. Ltd. and Lee, Keumki for KRW 22.4 billion on February 27, 2019. The consideration will be paid cash and exchanged with Il-dong Foods Co. Ltd. stocks, and trademarks etc. As per the terms, Ildong Holdings acquired 1.12 million shares of Ildong Pharmaceutical for KRW 20,000 per share. Il-dong Foods sold 0.29 million shares and Lee, Keumki sold 0.83 million shares of Ildong Pharmaceutical, respectively. Il-dong Foods will also sell 14689 shares of Ildong Pharmaceutical that will be received as dividend. Ildong Holdings sold 0.35 million shares for KRW 12.6 billion as consideration. Prior to the transaction, Ildong Holdings held 25.56% stake, Lee, Keumki held 5.47% stake and Il-dong Foods held 1.36% stake in Ildong Pharmaceutical, respectively. Post completion, Ildong Holdings holds 30.74% stake, Lee, Keumki holds 1.65% stake and Il-dong Foods holds no stake in Ildong Pharmaceutical, respectively.

Ildong Holdings Co., Ltd. (KOSE:A000230) completed the acquisition of 5.18% stake in Ildong Pharmaceutical Co., Ltd. (KOSE:A249420) from Il-dong Foods Co. Ltd. and Lee, Keumki on February 27, 2019.