Woori Financial Group Inc. agreed to acquire 74.04% stake in AJU Capital Co., Ltd. from Well to Sea Investment Co., Ltd. for approximately KRW 570 billion.

Woori Financial Group Inc. (KOSE:A316140) agreed to acquire 74.04% stake in AJU Capital Co., Ltd. (KOSE:A033660) from Well to Sea Investment Co., Ltd. for approximately KRW 570 billion on October 23, 2020. Woori Financial Group will purchase 42.6 million shares of AJU Capital. The purchase price is subject to change and will be paid in cash.

The Board of Directors of Woori Financial Group Inc. passed a resolution to approve the transaction. The expected close date is currently undecided, and will be confirmed later.