NongHyup Agribusiness Group Inc. signed a contract to acquire 52.82% stake in Nong Woo Bio Co. Ltd. (KOSDAQ:A054050) from Ko, Joon Ho and 5 other individuals for approximately KRW 280 billion on July 25, 2014. Under the terms of agreement, NongHyup Agribusiness acquired 7.6 million shares of Nong Woo Bio Co. A deposit of KRW 28.3 billion is to be paid on July 25, 2014; a mid-payment of KRW 78.2 billion is to be paid on September 2, 2014 while the balance is to be paid on September 4, 2014. The transaction is expected to close on September 4, 2014.

NongHyup Agribusiness Group Inc. completed the acquisition of 52.82% stake in Nong Woo Bio Co. Ltd. (KOSDAQ:A054050) from Ko, Joon Ho and 5 other individuals for approximately KRW 280 billion on September 4, 2014.