Cristal Value Investment Union 1, Cristal Value Investment Union 2 and Cadians System Corp. signed an contract to acquire 17.1% stake in Jeil Steel Mfg Co., Ltd. (KOSDAQ:A023440) from K1 People Co., Ltd. and Sinparkhanpeople Co. Ltd for KRW 18.2 billion on February 10, 2021. As per terms of transaction, K1 People Co., Ltd. and Sinparkhanpeople Co. Ltd sold 2.7 million shares and 3.3 million shares at KRW 3025 per share. As of February 10, 2021, the K1 People Co., Ltd. and Sinparkhanpeople Co. Ltd received the down payment to KRW 2.1 billion and the balance of KRW 17.5 billion will be paid on closing. As of March 3, 3021, the first installment of KRW 15.45 billion has been paid while remaining KRW 2 billion payable on completion on March 18, 2021. As on March 19, 2021, Sinparkhanpeople Co. Ltd completed the sale to Cadians System Corp.