Kang Stem Biotech Co., Ltd. (KOSDAQ:A217730) agreed to acquire a 60% stake in Croen Inc. for KRW 2.7 billion on April 20, 2017. Under the terms, 0.2 million shares will be acquired. The consideration will be paid in cash. For the year ended December 31, 2016, Croen Inc. reported total assets of KRW 3.10 billion, net assets of KRW 1.2 billion, sales of KRW 3.87 billion and net profit of KRW 73 million. The scheduled acquisition date is April 28, 2017 which may be changed depending upon the progress.