Samboo Construction, currently undergoing corporate rehabilitation proceedings, has changed the party to its M&A investment contract prior to the court's approval of its rehabilitation plan.

In a regulatory filing on the 19th, Samboo Construction stated that Pareto Asset Management's consortium, the original designated acquirer, has established a special purpose company (SPC) named 'Rebuild Samboo Holdings,' and that it has received court approval from the Seoul Rehabilitation Court to amend the investment contract to designate this entity as the new investor.

The amendment process was carried out after first modifying the clause restricting the assignment of rights under the investment contract, and the court approved the change on the 19th. Accordingly, the contracting investor has been changed from the Pareto Asset Management consortium to Rebuild Samboo Holdings.

The total acquisition price remains unchanged at 33 billion won. In detail, the contract deposit of 3.3 billion won has already been paid and pledged, and the balance of 29.7 billion won was also paid and pledged on the 19th.

This transaction is being pursued as a pre-rehabilitation M&A. The investor plans to acquire 33 million shares of Samboo Construction common stock through a third-party allotment capital increase.

A meeting of interested parties to review the rehabilitation plan is scheduled for the 26th. Samboo Construction plans to make additional disclosures as soon as key matters related to the rehabilitation proceedings are finalized.

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