Old Faithful Co., Ltd. signed memorandum of understanding to acquire 27.17% stake in Yuyang D&U Co.,Ltd. (KOSE:A011690) from EV Advanced Material Co.,Ltd (KOSDAQ:A131400) for KRW 23.6 billon on June 29, 2021. As per terms of transaction, Old Faithful Co., Ltd. will acquire 40 million shares at KRW 590 per share. Transaction is expected to completed on September 30, 2021.