Shinsegae Inc. (KOSE:A004170) agreed to acquire 92.35% stake in Casamia Co., Ltd. from founder and family members of Casamia Co., Ltd. for approximately KRW 180 billion on January 24, 2018. Under the terms, Shinsegae Inc will acquire 6.8 million shares. The consideration is paid in cash. As of December 31, 2017, Casamia Co., Ltd reported total assets of KRW 141.9 billion, net assets of KRW 108.4 billion, sales of KRW 121.97 billion and net profit of current period of KRW 8.54 billion. The transaction is resolved by the Board of Directors of Shinsegae Inc. The transaction is expected to close on February 28, 2018.