Global Display Co.,Ltd. (KOSDAQ:A155960) signed a contract to acquire 24.1% stake in Dongnam Marine Crane Co., Ltd. (KOSDAQ:A101000) from ZMC Co., Ltd. and DS Heavy Industries Co., Ltd. for KRW 44.3 billion on December 29, 2017. Global Display Co.,Ltd. initially signed a contract to acquire 25.6% stake in Dongnam Marine Crane Co., Ltd. from ZMC Co., Ltd. and DS Heavy Industries Co., Ltd. for KRW 46.9 billion on December 29, 2017. As per the initial terms, Global Display Co.,Ltd. will acquire 5.86 million shares of Dongnam Marine Crane Co., Ltd. from ZMC and acquire 3.39 million shares of Dongnam Marine Crane Co., Ltd. from DS Heavy Industries at KRW 5082 per share. Global Display Co.,Ltd paid KRW 22.79 billion to ZMC and KRW 8.8 billion to DS Heavy Industries on December 29, 2017 and the remaining balance of KRW 7 billion and KRW 8.41 billion will be paid to ZMC and DS Heavy Industries respectively on March 30, 2018. After the transactions, Global Display Co.,Ltd. will hold 25.59% stake, ZMC Co., Ltd. will hold 0.54% stake in Dongnam Marine Crane Co., Ltd and DS Heavy Industries Co., Ltd. will hold no stake in Dongnam Marine Crane Co., Ltd. As of March 8, 2018, the transaction terms are revised, Global Display Co.,Ltd will now acquire 8.7 million shares representing 24.11% stake in Dongnam Marine Crane Co., Ltd at KRW 5082 per share of which ZMC will sell 5.5 million shares and DS Heavy Industries will sell 3.39 million shares. ZMC will receive a total payment of KRW 17.2 billion. An initial payment has been made on December 29, 2017 and the balance payment of KRW 12.7 billion will be made on March 8, 2018. Post transaction, Global Display will own 24.11% stake in Dongnam Marine Crane Co., Ltd. ZMC Co., Ltd. will hold 0.54% stake in Dongnam Marine Crane Co., Ltd and DS Heavy Industries Co., Ltd. will hold no stake in Dongnam Marine Crane Co., Ltd. The balance payment has been completed on March 8, 2018. The Board of Directors of Global Display passed a resolution for the transaction on December 29, 2017. The transaction is expected to be completed on March 30, 2018. The transaction is now expected to complete on March 9, 2018. The expected closing date may change if the date of general meeting of shareholders’ is changed. DaeSung SamKyeong Accounting Corporation acted as the external rating institution. Global Display Co.,Ltd. (KOSDAQ:A155960) completed the acquisition of 24.1% stake in Dongnam Marine Crane Co., Ltd. (KOSDAQ:A101000) from ZMC Co., Ltd. and DS Heavy Industries Co., Ltd. on March 9, 2018.