KG Mobilians Co., Ltd (KOSDAQ:A046440) agreed to acquire Allat Corporation from Kginicis Co.,Ltd (KOSDAQ:A035600) and others for approximately KRW 490 billion on November 18, 2019. Under the terms of the transaction, the merger ratio to be paid for the transaction is 1:8.9186117 (KG Mobility: KG All-At Co., Ltd.). KG Mobilians shall acquire approximately 8.9 million shares.

Allat Corporation will be merged into KG Mobilians and KG Mobilians will be surviving entity. Board of Directors of KG Mobilians Co., Ltd resolved the transaction on November 18, 2019. The transaction is subject to shareholder approval of KG Mobilians and Kginicis.

The transaction is expected to close on February 27, 2020. Hanul Accounting Firm acted as an external evaluation agency.