Korea Advanced Materials said Thursday it has decided to acquire 640,000 shares — a 100 percent stake — in Live Connection from Satoshi Holdings.

The acquisition is valued at 3.39968 billion won (approximately $2.24 million), representing 18.44 percent of the company's total assets and 26.08 percent of its equity capital.

The transaction is scheduled to close June 11.

The company said the acquisition aims to expand sales and pursue new projects.


jiyoon436@heraldcorp.com