SPC Itcen Co., Ltd. agreed to acquire 40% stake in Ssangyong Information & Communications Corp. (KOSDAQ:A010280) from Hahn & Co. Cement Holdings Limited for KRW 27.4 billion on February 19, 2020. SPC Itcen Co., Ltd will acquire 16.2 million shares at KRW 1695 per shares. A down payment of KRW 2.7 billion has been paid on February 19, 2020 and remaining KRW 24.7 billion will be paid on April 23, 2020. Post completion, SPC Itcen Co., Ltd will hold 40% stake and Hahn & Co. Cement Holdings Limited will hold 9.84% stake in Ssangyong Information & Communications Corp. As of April 17, 2020, SPC Itcen Co., Ltd will acquire 16.2 million shares at KRW 1616 per shares. A Middle plating payment of KRW 7 billion has been paid on April 17, 2020 and remaining KRW 16.4 billion will be paid on June 5, 2020. Scheduled date of change is April 23, 2020. As of April 17, 2020, the transaction is expected to close in June 5, 2020.