Barunson E&A Corporation (KOSDAQ:A035620) agreed to acquire Barunson Film from Barunson Co.,Ltd. (KOSDAQ:A018700) for KRW 1.3 billion on July 20, 2015. Barunson E&A Corporation will issue one share for 0.9717400 shares of Barunson Film. Barunson E&A Corporation will issue 0.55 million new shares for the merger.

Post acquisition, Barunson E&A Corporation will survive and Barunson Film will be dissolved after the merger. Barunson Film generated revenues of KRW 107 million, net loss of KRW 1.6 billion and total assets of KRW 715 million for the year ended December 31, 2014. Board of Directors meeting for the approval of the transaction is August 21, 2015.

As on August 21, 2015, the deal was approved by the Board of Directors of Barunson E&A Corporation. The deal is expected to close on October 1, 2015. As of September 16, 2015, merger date was changed from October 1, 2015 to September 22, 2015.

Ankyung Accounting Corporation acted as evaluating institution for the transaction.