KIDO Group Corporation (HOSE:KDC) agreed to acquire remaining 32.79% stake in Kido Frozen Foods Joint Stock Company for approximately VND 690 billion on May 27, 2020. Under the transaction, KIDO Group will issue 23.1 million shares and acquire 17.76 million shares of Kido Foods, equivalent to 32.79 per cent of its total outstanding shares. As a result of the transaction Kido Frozen will become a one-member limited liability company wholly owned by Kido Group. The transaction is subject to shareholder approval of KIDO Group and Kido Frozen. The Board of Directors approved the merger contract between KIDO Group Corporation and Kido Frozen Foods Joint Stock Company with the main contents in line with the Draft approved by the annual General Meeting of Shareholders on June 9, 2020. The Board of Directors approved the authorization for Mr. Tran Kim Thanh - Chairman of the Board of Directors cum the legal representative of the Company to sign and organize the implementation of the merger contract. The Board of Directors approved the Draft Charter of KIDO Group Corporation. After the merger, KIDO Frozen Food Joint Stock Company adjusted the charter capital of the company after the merger. Kido Frozen Foods Joint Stock Company commits to fully comply with the provisions of the Competition Law as well as meet all conditions for the merger of Kido Frozen Foods Joint Stock Company into KIDO Group Corporation in accordance with the Competition Law. The transaction is expected to be completed in October 2020. KIDO Group Corporation (HOSE:KDC) completed the acquisition of remaining 32.79% stake in Kido Frozen Foods Joint Stock Company at the end of December, 2020.