SK E&S Co., Ltd. made a tender offer to acquire an additional 23.6% stake in Busan City Gas. Co. Ltd. (KOSE:A015350) for approximately KRW 220 billion on September 15, 2021. SK E&S Co., Ltd. will acquire 2.6 million shares at KRW 85,000 per share. If the intended tender offer is fully subscribed by the shareholders of Busan City Gas. Co. Ltd., stake of SK E&S Co., Ltd. in Busan City Gas. Co. Ltd., would increase from 67.32% to 90.92%. SK E&S plans to delist Busan City Gas after stake acquisition. The purchase will be made until October 15, 2021. SK E&S Co., Ltd. completed the acquisition of an additional 17.01% stake in Busan City Gas. Co. Ltd. (KOSE:A015350) for approximately KRW 160 million on October 15, 2021. At closing, 1,871,543 shares were tendered, representing 17.01% stake. After the close of Offer, SK E&S holds 84.34% stake in Busan City Gas. Co. Ltd. SK E&S is planning to acquire the remaining 1,723,054 shares representing 15.66% stake in stake Busan City Gas. Co. Ltd. via stock exchange at a ratio of 1:1.1656770.