Mobiis Co., Ltd. (KOSDAQ:A250060) agreed to acquire 43.9% stake in ADM Korea Inc. from Mihyun Cho for KRW 8.8 billion on December 14, 2018. Under the terms of transaction, Mobiis Co., Ltd. will acquire 0.01 million shares for KRW 8.8 billion; KRW 1.8 billion will be paid as deposit on December 14, 2018, and balance of KRW 7.01 billion will be paid on January 14, 2019. The transaction will be funded by own funds of Mobiis Co., Ltd. For the year ended September 30, 2018, ADM Korea Inc. had total assets of KRW 6.9 billion, net assets of KRW 4.9 billion, sales of KRW 10.4 billion and net profit of KRW 1.6 billion.

The transaction has been resolved by the Board of Mobiis Co., Ltd. The transaction is expected to be completed by January 14, 2019. Jinil Accounting Corporation acted as external rating institution in the transaction.