Hoban Engineering Co., Ltd. entered into a letter of intent to acquire 40% stake Taihan Electric Wire Co., Ltd. (KOSE:A001440) for approximately KRW 250 billion on March 26, 2021. Hoban Engineering Co., Ltd. agreed to acquire 40% stake in Taihan Electric Wire Co., Ltd. (KOSE:A001440) from Nike, Inc. for approximately KRW 250 billion on March 29, 2021. Under the terms Hoban Engineering will acquire 342.6 million shares of Taihan Electric Wire for KRW 735 per share. The acquisition is self funded. The transaction is expected to close on May 31, 2021.