Woongjin Thinkbig Co., Ltd. (KOSE:A095720) agreed to acquire 22.2% stake in Coway Co., Ltd. (KOSE:A021240) from MBK Partners for KRW 1.7 trillion on October 29, 2018. Under the terms, Woongjin Thinkbig will acquire 16.4 million shares of Coway in cash. Post completion, Coway will be renamed as Woonjin Coway. As of December 24, 2018, Woongjin Thinkbig Co., Ltd. plans to raise KRW 380 billion for itself and remainder from the financial investors. STIC Investment will provide KRW 500 billion while Korea Investment & Securities will raise the remaining KRW 800 billion. Woongjin Thinkbig Co., Ltd. has secured KRW 95 billion including Woongjin Thinkbig's cashable assets worth KRW 75.6 billion won and a bridge loan from Samsung Securities. It plans to raise KRW 170 billion won through Woongjin Thinkbig's capital increase and the remaining KRW 115 billion won by issuing commercial papers or obtaining an additional bridge loan. The transaction has been resolved by the Board of Directors of Woongjin Thinkbig at the meeting held on October 29, 2018. The transaction is expected to be completed by March 15, 2019. As of March 21, 2019, the transaction is expected to complete on March 22, 2019. Goldman Sachs acted as financial advisor to MBK Partners.

Woongjin Thinkbig Co., Ltd. (KOSE:A095720) completed the acquisition of 22.2% stake in Coway Co., Ltd. (KOSE:A021240) from MBK Partners in March 2019.