Jaan Cosmetic Union 1 and Jaanhbio, Inc. (KOSDAQ:A221610) agreed to acquire Hydrogen S.R.L. from Ge Co Fim Gestioni Commerciali Finanziarie Immobiliari Spa, Bronzaji S.R.L., Matteo Bergo, Francesco Celentano and Alberto Bresci for KRW 14.7 billion on April 22, 2021. Jaan Cosmetic Union 1 will acquire 8.3% stake and Jaanhbio, Inc. will acquire 91.67% stake in Hydrogen. The acquisition will be Self funded and from borrowed money. Hydrogen S.R.L reported revenues of KRW 10.6 billion, net loss of KRW 1.64 billion, total asset of KRW 15.8 billion and total common equity of KRW 3.3 billion for the year ending October 31, 2020. The transaction is expected to close on May 31, 2021. As of May 31, 2021, the transaction is expected to be completed by June 25, 2021. Hanmi Accounting Corporation acted as external evaluation agency in the deal.