Telcon Holdings Co., Ltd., Suntree Investment Co., Ltd., Crystal No. 1 Fund, Seokwang Partners Co., Ltd., OFC Co., Ltd and Apollo Investment Fund agreed to acquire 60.93% stake in Telcon Co., Ltd. (KOSDAQ:A200230) from Kmw Inc. (KOSDAQ:A032500) for KRW 46 billion on February 29, 2016. Kmw Inc. is selling 3.1 million shares. Telcon Holdings Co., Ltd will acquire 1 million shares for KRW 15 billion, Suntree Investment Co., Ltd will acquire 0.5 million shares for KRW 7.52 billion, Crystal No. 1 Fund will acquire 0.56 million shares for KRW 8.45 billion, Seokwang Partners Co., Ltd. will acquire 0.5 million shares for KRW 7.52 billion and OFC Co., Ltd will acquire 0.5 million shares for KRW 7.52 billion. Deposit of KRW 4.6 billion has been paid on February 29, 2016, second payment will be of KRW 17.4 billion on March 7, 2016 and balance KRW 24 billion will be paid on March 29, 2016.

As on March 29, 2016, Kmw Inc. revised the terms of sale. Under the revised terms, the buyers will now pay a KRW 389 more for the acquisition. Telcon Holdings Co., Ltd will acquire 1 million shares for KRW 15 billion, Suntree Investment Co., Ltd will acquire 0.47 million shares for KRW 7 billion, Crystal No. 1 Fund will acquire 0.46 million shares for KRW 6.97 billion, Seokwang Partners Co., Ltd. will acquire 0.47 million shares for KRW 7.03 billion, OFC Co., Ltd will acquire 0.5 million shares for KRW 7.5 billion and Apollo Investment will acquire 0.17 million shares for KRW 2.5 billion. Telcon Holdings Co., Ltd., Suntree Investment Co., Ltd., Crystal No. 1 Fund, Seokwang Partners Co., Ltd., OFC Co., Ltd and Apollo Investment will pay the balance payment of KRW 17.4 billion on March 7, 2016 and will pay KRW 24 billion till March 29, 2016. The transaction is expected to close on March 29, 2016. As of March 29, 2016, the acquisition by Apollo Investment Fund has been completed. E-Chon Accounting Corporation acted as the external rating institution.

Telcon Holdings Co., Ltd., Suntree Investment Co., Ltd., Crystal No. 1 Fund, Seokwang Partners Co., Ltd., OFC Co., Ltd and Apollo Investment Fund completed the acquisition of 60.93% stake in Telcon Co., Ltd. (KOSDAQ:A200230) from Kmw Inc. (KOSDAQ:A032500) on March 29, 2016.