eTEC E&C Limited (KOSDAQ:A016250) agreed to acquire additional 11.32% stake in Sg Development Co.,Ltd from Sam Kwang Glass Co., Ltd. (KOSE:A005090) for KRW 10.1 billion on May 3, 2018. Under the terms, eTEC E&C Limited will acquire 1.29 million shares at KRW 7,796 per share. Post acquisition, eTEC E&C Limited will hold 4.1 million shares (35.9%) in Sg Development Co.,Ltd and Sam Kwang Glass will own 34.3% stake.

The transaction has been resolved by the Board of Directors of eTEC E&C Limited on May 3, 2018. The transaction is expected to be completed on May 9, 2018.