Korea Green Paper Manufacturing Co., Ltd. (KOSE:A109070), Korea Consortium Co., Ltd and Tribeca Investment Fund 1 agreed to acquire 35.4% stake in IM Tech Inc. (KOSDAQ:A226350) from Wooree ETI Co., Ltd. (KOSDAQ:A082850) for KRW 33 billion on January 18, 2017. Korea Green Paper Manufacturing, Korea Consortium and Tribeca Investment Fund 1 will acquire 6 million shares. Korea Green Paper Manufacturing acquired 0.91 million shares and Korea Consortium acquired 2.99 million shares of IM Tech. Under the terms of transaction, KRW 5 billion will be deposited on January 18, 2017 and balance of KRW 28 billion will be paid within 3 business days before the general meeting of shareholders. Post transaction, Wooree ETI Co., Ltd. will cease to be shareholder of IM Tech Inc. The transaction was funded from own funds and borrowings or loans. Board of Directors of Korea Green Paper Manufacturing Co., Ltd. made a resolution in favor of the transaction on January 18, 2017. As of January 25, 2017, Korea Green Paper Manufacturing Co., Ltd. completed acquisition of 5.36% stake in IM Tech Inc. The deal is expected to be completed by February 27, 2017. As per amendment on February 27, 2017, the transaction is expected to close on March 21, 2017. As of March 17, 2017, the transaction is expected to close on March 17, 2017.

Korea Green Paper Manufacturing Co., Ltd. (KOSE:A109070), Korea Consortium Co., Ltd and Tribeca Investment Fund 1 completed the acquisition of 35.4% stake in IM Tech Inc. (KOSDAQ:A226350) from Wooree ETI Co., Ltd. (KOSDAQ:A082850) on March 17, 2017.