Posco Chemtech Company Ltd. (KOSDAQ:A003670) agreed to acquire 10% stake in POSCO ES MATERIALS CO., LTD. for KRW 13.6 billion on December 7, 2018. A total of 0.22 million shares will be issued at a merger ratio of 0.2172865. As of January 14, 2018, the deal terms were revised. A total of 0.21 million shares will be issued at a merger ratio of 0.2131444 for the consideration of KRW 12.9 billion. The name of the surviving company after the merger is Posco Chemtech Company Ltd. POSCO ES MATERIALS reported total assets of KRW 835.84 billion, net assets of KRW 692.19 billion, sales of KRW 1.2 trillion and net profit of KRW 103.96 billion for 2017. General meeting of shareholders will be held on February 7, 2019. The Board of POSCO, parent of Posco Chemtech Company Ltd., resolved in favor of the deal on December 7, 2018. The Board of Posco Chemtech Company Ltd. approved the deal on February 8, 2019. Existing shareholders can sell away their shares to Posco Chemtech from February 7, 2019 to March 29, 2019. Deal is expected to close on April 1, 2019. Posco Chemtech Company Ltd. (KOSDAQ:A003670) completed the acquisition of 10% stake in POSCO ES MATERIALS CO., LTD. on April 1, 2019.