Sejin Heavy Industries Co., Ltd. (KOSE:A075580) agreed to acquire 8.05% stake in Dongbang Ship Machinery Co., Ltd. (KOSDAQ:A099410) for KRW 4 billion on September 29, 2021. The transaction will be settled in cash. Dongban reported total assets of KRW 32.04 billion, revenue of KRW 21.6 billion and net loss of KRW 0.93 billion for year ending 2020.

The transaction is expected to close on October 1, 2021.