Global SM Tech Limited (KOSDAQ:A900070) and Seoul Metal (H.K.) Co., Ltd signed a memorandum of understanding to acquire Industrias Gol Sa from Alfa Lan S.A. for €22 million on January 26, 2015. Global SM Tech Limited and Seoul Metal (H.K.) Co., Ltd will acquire 26.57 million shares of Industrias Gol for €18 million and will also pay €4 million of debt owed by Industrias Gol to suppliers. Global SM Tech Limited will acquire 80% stake and Seoul Metal (H.K.) Co., Ltd will acquire 20% stake. Rumagol, a 100% subsidiary of Industrias Gol will also be acquired as a result of the transaction. Industrias Gol had consolidated sales of €24 million, EBITDA of €3.8 million and total assets of €45 million in 2014. On April 29, 2015 Seoul Metal acquired partial 10% stake in the transaction after making partial payments for the transaction. The temporary general meeting of shareholders is scheduled on August 4, 2015. The Board of Global SM Tech Limited passed a resolution for the transaction on June 24, 2015. As of August 4, 2015, Global SM Tech Limited's shareholders have approved the transaction. Full payment of the transaction will be made till April 2018. Expected transaction settlement date is April 30, 2018. The expected date of closing was amended to May 31, 2018. Seoul Metal shall acquire 5.31 million shares of Industrias Gol for KRW 4502.05 million (€3.7 million). Global SM shall acquire 21.26 million shares of Industrias Gol for KRW 18008.21 million (14.76 million). As of January 25, 2016, the deal terms have been amended. Global SM Tech Limited will pay KRW 14.3 million (€11 million) for 80% stake and Seoul Metal will pay KRW 3.7 million (€2.9 million) for 20% stake in Industrias Gol. As on April 30, 2018, the deal terms have been amended. Global SM Tech Limited will pay €11.4 million for 80% stake and Seoul Metal will pay €3 million for 20% stake in Industrias Gol. VR Corporativa acted as consultant in the transaction. Marino Sanchez-Cid, Raul Lopez Moro of BDO Corporate Finance acted as financial advisors for Gobal SM. All conversions were made through www.oanda.com as on January 28, 2015. Global SM Tech Limited (KOSDAQ:A900070), Seoul Metal (H.K.) Co., Ltd. and Seoul Metal Vietnam Joint Stock Company completed the acquisition of Industrias Gol, SA from Alfa Lan S.A. on May 16, 2018. Following the transaction, Global SM Tech Limited (KOSDAQ:A900070), Seoul Metal (H.K.) Co., Ltd. and Seoul Metal Vietnam Joint Stock Company hold 72%,18% and 10% stake in Industrias Gol respectively.