Telcon Co., Ltd. (KOSDAQ:A200230), Hanil Vacuum Co., Ltd. (KOSDAQ:A123840), OFC Co., Ltd., Philos Fund 1 and Jade Fund 1 agreed to acquire 30.5% stake in KPM TECH Co., Ltd. (KOSDAQ:A042040) from a group of sellers for KRW 13.5 million on July 13, 2016. On July 29, 2016, a contract is acquired. In a related transaction, Woori Financial Group Inc. (KOSE:A316140) will sell 6.5% stake in KPM TECH.

Consideration for both transactions is approximately KRW 16.3 billion. And in both transactions, Telcon Co will acquire 0.38 million shares of KPM TECH for approximately KRW 2.1 billion, Hanil Vacuum will acquire 0.18 million shares for approximately KRW 0.99 million, while the remaining buyers agreed to acquire 9.9% stake each in the deal representing an offer per share of KRW 5,500. In a related deal, Telcon Co., Ltd. agreed to acquire 1.35 million new shares of KPM TECH.

The Board of Telcon Co resolved the deal on July 29, 2016. The scheduled completion date is August 25, 2016. Woori Bank Co.

completed the sale of 0.52 million on August 25, 2016.