BGF to acquire KNW controlling stake for KRW 81.75 bln

BGF will buy 9,113,891 common shares, equal to 56.89% of outstanding stock in KNW, shifting its controlling stake. The deal values the shares at KRW 81.75 billion, priced at KRW 8,970 per share based on the Oct. 7 closing price. Settlement is scheduled for Oct. 12.