HT Investment Purpose Co., Ltd. signed a memorandum of understanding to acquire 45.22% stake in Tapex Co., Ltd. from Carlyle Growth Korea III, a fund of The Carlyle Group LP (NasdaqGS:CG) on March 4, 2016. Hansol Chemical Co., Ltd. (KOSE:A014680), parent of HT Investment will acquire 1.93 million shares of Tapex Co., Ltd. Hansol Chemical Co., Ltd. was selected as the preferred bidder. As of May 19, 2016, stock purchase agreement was signed under which HT Investment Purpose Co., Ltd. will acquire 45.22% stake in Tapex Co., Ltd. from Carlyle Growth Korea III, a fund of The Carlyle Group LP (NasdaqGS:CG) for approximately KRW 130 billion.

Part of the consideration representing 10% is to be paid as deposit of KRW 12.5 billion on May 20, 2016 and balance of KRW 112.5 billion will be paid within 5 business days after the approval of The Korea Fair Trade Commission. The deal is expected to close by May 30, 2016. Kim & Chang acted as legal advisor to Carlyle.