The Nature Holdings Co., Ltd. (KOSDAQ:A298540) signed contract to acquire 28.4% stake in Barrel Co., Ltd (KOSDAQ:A267790) from Jenn Ventures Co., Ltd. for KRW 38.02 billion on May 16, 2022. As per the transaction, The Nature Holdings Co., Ltd. will acquire 2.236 million shares. The Nature Holdings Co., Ltd. paid KRW 3.8 billion as down payment upon signing of agreement while remaining payable upon completion.

In related transactions, The Nature Holdings Co., Ltd. signed contract to acquire 9.68% stake in Barrel Co., Ltd from Meritz Hyundai Investment Partners New Technology Business Investment Association for KRW 12.98 billion on May 16, 2022. Transaction will be financed through holding funds and borrowings. The Board of Directors has passed the resolution for the transaction.

Completion is planned on July 15, 2022.