Samyang Corporation (KOSE:A145990) signed a contract to acquire 44.2% stake in KCI Limited (KOSDAQ:A036670) from Jae-Koo Youn and 6 others for KRW 70.9 billion on December 15, 2017. As per the transaction, Samyang Corporation will acquire 4.9 million shares of KCI Limited and the purchase price will be paid in cash. The deposit of 10% was paid on December 15, 2017.

Post completion, Samyang Corporation will hold 44.2% stake in KCI Limited. As of December 15, 2017, the transaction has been resolved by the Board of Directors of Samyang Corporation. The transaction is subject to approval of Korea Fair Trade Commission and is expected to complete on December 27, 2017.

KPMG acted as financial advisor to Samyang.