Woohyun Co., Ltd. and Ulsan Steel Eng agreed to acquire 9.56% stake in Capro Corporation (KOSE:A006380) from Kolon Industries, Inc. (KOSE:A120110) for KRW 12.2 billion on February 28, 2020. Under the terms, Woohyun will acquire 1.96 million shares for KRW 6.2 billion and Ulsan will acquire 1.87 million shares for KRW 5.9 billion respectively in Capro. The consideration will be paid in two parts: - (i) 10% Payment on February 28, 2020 and (ii) 90% balance on May 31, 2020.

The transaction is expected to complete on May 31, 2020.