Navis Fidelis Fund 7 and Franz 1st Fund signed a contract to acquire 12% stake in The E&M Co., Ltd. (KOSDAQ:A089230) from LONGTU KOREA Inc. (KOSDAQ:A060240) for KRW 15 billion on April 10, 2019. Out of total consideration, KRW 1.5 billion have been deposited and the balance amount will paid a week before the extraordinary shareholders' meeting date. Navis Fidelis Fund 7 will acquire 2.2 million shares and Franz 1st Fund will acquire 8.8 million shares. The expected closing of the transaction got postpone to May 10, 2019.

Navis Fidelis Fund 7 and Franz Investment Partnerthip No. 1 completed the acquisition of 12% stake in The E&M Co., Ltd. (KOSDAQ:A089230) from LONGTU KOREA Inc. (KOSDAQ:A060240) on May 10, 2019.