S.M. Entertainment Co., Ltd. (KOSDAQ:A041510) signed a contract to acquire 10.54% stake in FNC ADD CULTURE. Co., Ltd. (KOSDAQ:A063440) from Seong-Ho Han and Seong-Hoon Han for KRW 9.8 billion on March 14, 2018. Under the terms of transaction, S.M. Entertainment Co., Ltd. will acquire 3.2 million shares from Seong-Ho Han and 0.96 million shares from Seong-Hoon Han at KRW 2,348 each.

In related transactions, S.M. Entertainment Co., Ltd. entered into a contract to acquire 8.75% stake in FNC ADD CULTURE. Co., Ltd. from FNC Entertainment Co., Ltd. (KOSDAQ:A173940) for KRW 10.2 billion and will acquire 5.88 million new shares through third party allocation. Upon completion of the acquisition of new shares and existing shares, S.M. Entertainment Co., Ltd. will hold 30.51% stake in FNC ADD CULTURE.

Co., Ltd. The transaction is expected to be completed by May 18, 2018.