Ottogi Corporation (KOSE:A007310) agreed to acquire Richwood P&P Co., Ltd for KRW 24.2 billion on July 17, 2018. Ottogi Corporation (KOSE:A007310) will sign a contract with Richwood P&P Co., Ltd on July 20, 2018. Under the terms, Ottogi Corporation will issue 0.03 million shares with an exchange ratio of 1: 0.2566758. A contract is expected to be signed on July 20, 2018 and a definitive agreement is expected to be signed on August 2, 2018. Ottogi Corporation signed a contract to acquire Richwood P&P Co., Ltd on July 20, 2018. Post-acquisition, Ottogi Corporation will be a surviving company and Richwood P&P Co., Ltd will be dissolved. Richwood P&P Co., Ltd reported total assets of KRW 72.3 billion and total capital of KRW 66.6 billion for the year ended, December 31, 2017. The transaction has been resolved by the Board of Directors of Ottogi Corporation at the meeting held on July 17, 2018. The transaction was approved by the shareholders and Board of Ottogi Corporation on August 20, 2018. The transaction is expected to be completed by September 27, 2018. Seongun Accounting Corporation acted as external rating institution in a transaction. Ottogi Corporation (KOSE:A007310) completed the acquisition of Richwood P&P Co., Ltd on September 27, 2018.