Yoon-Jung Cho, Chief Executive Officer of Victory Production & Company., Ltd signed an agreement to acquire a 20% stake in Victory Production & Company., Ltd. from SL Company Co., Ltd. for KRW 6.9 billion on March 30, 2015. Under the terms of the transaction, payments will be made in 4 tranches payable as KRW 300 million on March 30, 2015; KRW 200 million on April 10, 2015; KRW 500 million on April 30, 2015 and balance payment before May 31, 2015. Post acquisition, SL Company Co., Ltd will retain 59.5% stake in Victory Production & Company, which is approximately 1.01 million shares.

The deal is expected to close on May 31, 2015.