Humax Co., Ltd. (KOSDAQ:A115160) agreed to acquire 70.5% stake in Winnercom Co., Ltd. from Jayong Gu, Sanghwa Jung, Neungbon Gu and Kyusik Ha for KRW 42 billion on November 20, 2017. Humax will enter into an agreement from November 20, 2017 to November 23, 2017. Humax will acquire 0.08 million shares of Winnercom. Humax will enter into a joint investment agreement with STIC Investments, Inc., that a STIC fund will acquire shares in Winner Colm, and before the stock sales/acquisition contract with the sellers is completed, Humax Co., Ltd. will transfer some of its position as buyer to STIC fund. Humax Co., Ltd. will ultimately hold 45.32% stake in Humax Co., Ltd. and STIC fund will ultimately hold 25.18% stake in Humax Co., Ltd. For the year ended December 31, 2016, Winnercom had total assets of KRW 46.7 billion, total common equity of KRW 22 billion, sales of KRW 125 billion and net profit of KRW 6.8 billion. The transaction is subject to approval from the Fair Trade Commission. The Board of Directors of Humax resolved the transaction on November 20, 2017. The transaction is expected to complete on December 26, 2017. The expected transaction closing date was amended to December 22, 2017. Humax Co., Ltd. (KOSDAQ:A115160) cancelled the acquisition of 70.5% stake in Winnercom Co., Ltd. from Jayong Gu, Sanghwa Jung, Neungbon Gu and Kyusik Ha on November 20, 2018.