Mattel Marketing Holdings Pte. Ltd. entered into a definitive agreement to acquire a 12.06% stake in Sonokong Co.,Ltd. (KOSDAQ:A066910) from Choi Sin-gyu for KRW 14 billion on October 10, 2016. Mattel Marketing Holdings Pte. Ltd. will acquire 2.62 million shares. The transaction is expected to be completed later in October 2016. The company also signed a two-year agreement for exclusive rights for sale, marketing and distribution of Mattel products excluding games. As of October 13, 2016, Mattel Marketing Holdings Pte. Ltd. will deposited 10% i.e KRW 1.3 billion in the escrow account, to be received after 2 years. and rest will be paid as acquisition amount. As per the amended terms, the transaction is expected to complete on November 30, 2016. As of November 30, 2016, closing is postponed till December 16, 2016. Mattel Marketing Holdings Pte. Ltd. completed the acquisition of 12.06% stake in Sonokong Co.,Ltd. (KOSDAQ:A066910) from Choi Sin-gyu on December 16, 2016. The transaction was funded from Borrowings/loans.