Hyung Kuk F&B Co., Ltd. (KOSDAQ:A189980) signed memorandum of understanding to acquire CNT Planet Co., Ltd. from Jaehyuk Yoo and others for KRW 11 billion on August 8, 2016. The consideration will be paid as KRW 550 million on August 8, 2016 and remaining on the closing date as of acquisition contract. The transaction is subject to consummation of due diligence investigation.