REORIENT Group Limited, Investment arm and management team of EQ entered into an agreement to acquire 59.8% stake in EQ Partners from Dong-Ah Tire & Rubber Co., Ltd..
The transaction is subject to the condition that Kim Jong Hoon James will remain employed with management team of EQ Partners and EQ Partners not having incurred any obligation under key person provisions contained in the organization or governing agreements of the funds managed or advised by it to give any notice, seek consent or replace any key person under such provisions and the execution and delivery of the share pledge agreement by the management team in favor of Dong-Ah, as security for financing of the purchase price for unknown buyer's shares provided by Dong-Ah. The Directors of REORIENT Group consider that the terms of the acquisition are fair and reasonable and in the interests REORIENT Group and its shareholders as a whole. The completion of the transaction shall take place on the on the second business day when all the conditions precedent have been fulfilled (or waived).