Wooree E&L Co., Ltd. (KOSDAQ:A153490) agree to acquire an unknown remaining minority stake in Wooree Vina Company Limited from Wooree Bio Co.,Ltd (KOSDAQ:A082850) for KRW 7.4 billion on October 8, 2020. Under the terms of transaction, Consideration was paid in cash and Wooree E&L will pay initial down payment of KRW 1.5 million and KRW 2.2 billion will be paid on November 27, 2020 and remaining balance of KRW 3.7 billion will be paid on closing. Post completion, Wooree E&L will hold 100% stake in Wooree Vina Company.

For year ended December 31, 2019, the Wooree Vina had total assets, total capital, sales and net income as KRW 48.9 billion, KRW 4.6 billion, KRW 86.8 billion and KRW 408 million respectively. Board passed the resolution on October 8, 2020 and the transaction is expected to close on January 14, 2021.