Gukhwan Woo, Chief Executive Officer of M Food SNC Co., Ltd., Shin Sung Gas Co., Ltd. and Uniquantum Holdings Co., Ltd. agreed to acquire M Food SNC Co., Ltd. from A1N Inc. (KOSDAQ:A035290) for KRW 7.7 billion on September 28, 2017. Under the terms of the deal, a deposit of KRW 2.5 billion will be paid on September 28, 2017 where in Gukhwan Woo and Shin Sung Gas Co., Ltd. will pay KRW 1 billion each and Uniquantum Holdings Co., Ltd. will pay KRW 500 million. The balance of the purchase price of KRW 5.2 billion will be paid on December 31, 2017 where in Gukhwan Woo and Shin Sung Gas Co., Ltd. will pay KRW 2.1 billion each and Uniquantum Holdings Co., Ltd. will pay KRW 1 billion. For the year December 31, 2016, M Food SNC reported total assets of KRW 2.7 billion, sales amount of KRW 9.1 billion, net assets of KRW 1.6 billion and net profit of KRW 1.2 billion. The expected closing of the deal is December 31, 2017. The expected closing date has been revised from January 31, 2018 to January 25, 2018. The balance payment will now be paid on January 25, 2018. Myungil Accounting Corporation acted as external rating institution in the deal. Gukhwan Woo, Chief Executive Officer of M Food SNC Co., Ltd., Shin Sung Gas Co., Ltd. and Uniquantum Holdings Co., Ltd. cancelled the acquisition of M Food SNC Co., Ltd. from A1N Inc. (KOSDAQ:A035290) on September 28, 2018.