Kolon Global Corporation (KOSE:A003070) made a bid to acquire Shinni Development Co. Ltd. for KRW 49 billion on March 2, 2017. Kolon Global Corporation was selected as preferred bidder and will pay KRW 24.5 billion for shares and KRW 24.5 billion for bonds. The above details may change depending on the related parties general meeting and approval of the court.