Lotte SamKang Company Ltd. (KOSE:A002270) signed a statutory merger agreement to acquire the remaining 90.96% stake in Lotte Fresh Delica Co., Ltd. from Honam Petrochemical Corp. (KOSE:A011170), Lotte Hotel Co. Ltd., Lotte Chilsung Beverage Co., Ltd. (KOSE:A005300), Lotte Confectionery Co. Ltd. (KOSE:A004990), Shin Yoo-Mi and other stakeholders for KRW 22.8 billion in stock on July 12, 2012. Lotte SamKang will issue a total of 0.04 million shares with 0.0130929 share per Lotte Fresh's share. Lotte Fresh Delica will dissolve after the transaction. As at March 31, 2012, Lotte Fresh Delica had total assets of KRW 37.6 billion. The transaction was approved by Board of Directors of Lotte SamKang. The transaction is expected to complete on October 1, 2012. The merger agreement has been signed on July 18, 2012. The new stocks will be listed on stock exchange by October 19, 2012. On the merger date, Lotte SamKang Company Ltd. common stocks (face value KRW 5,000) 44,774 shares will be allocated per each share of Lotte Fresh Delica Co., Ltd. common stock retained by existing shareholders registered in stock book of Lotte Fresh Delica Co., Ltd. A general meeting of the shareholders of Lotte SamKang will be held on August 14, 2012 to approve the deal. As of August 14, 2012, the merger is approved substituting the general meeting of stockholders.