Jaanh, Inc. and Jaanh Group, Inc. signed a memorandum of understanding to acquire 30.8% stake in MP Hankang CO., Ltd. from MP Group, Inc for KRW 24.5 billion.

Jaanh, Inc. (KOSDAQ:A221610) and Jaanh Group, Inc. signed a memorandum of understanding to acquire 21.8% stake in MP Hankang CO., Ltd. (KOSDAQ:A219550) from MP Group, Inc (KOSDAQ:A065150) for KRW 24.5 billion on March 8, 2021. Under the terms of the transaction, 17.426961 million shares will be transferred and 20% consideration will be paid after signing of memorandum of understanding and remaining 80% on the business day immediately before the closing date. Due diligence will be conducted for two weeks after the date of signing the memorandum of understanding.

Transaction is expected to complete on March 29, 2021.