GCHEALTHCARE co.,Ltd agreed to acquire 52.7% stake in UBCare Co., Ltd. (KOSDAQ:A032620) from a group of sellers for approximately KRW 210 billion on February 6, 2020. GCHEALTHCARE co.,Ltd signed the contract to acquire 52.7% stake in UBCare Co., Ltd. on February 7, 2020. As per the terms consideration will be payable in cash and GCHEALTHCARE co.,Ltd will acquire 27.5 million shares. KRW 68 billion will be paid to Kakao Investment on February 7, 2020 and with balance on April 29, 2020. KEB Hana Bank Co. Ltd. will provide approximately KRW 10 billion of acquisition financing to GCHEALTHCARE for the period of February 7, 2020 to March 7, 2020. As of April 29, 2020, down payment of KRW 6.7 billion was paid to Euonymus Holdings Inc. on February 21, 2020 and KRW 3.6 billion was paid to Kakao Investment on February 7, 2020. The deal is subject to an approval reply from the Fair Trade Commission for the business combination report from the Fair Trade Commission. The board resolved the transaction on February 6, 2020. The transaction is expected to be completed on April 29, 2020. The expected closing date postponed to May 29, 2020. As reported, closing date of the transaction is not confirmed. GCHEALTHCARE co.,Ltd completed the acquisition of 52.7% stake in UBCare Co., Ltd. (KOSDAQ:A032620) from a group of sellers on May 7, 2020.