SI Resources Co., Ltd. (KOSE:A065420) agreed to acquire 50% stake in Uglegorskugol OOO from Kyoung-Dukon Choi for KRW 5 billion on May 6, 2013. SI Resources will acquire 5,000 shares of Uglegorskugol. SI Resources will pay KRW 5 billion on June 30, 2014.

During the year ended December 31, 2012, Uglegorskugol had total assets of KRW 5.37 billion, total liabilities of KRW 4.76 billion, total stockholders' equity of KRW 605 million, nil capital, sales revenue of KRW 9.76 billion, and net profit of KRW 999 million. Board of Directors of SI Resources Co., Ltd. resolved the transaction on May 6, 2013. The transaction is expected to close on June 30, 2013.

As of June 28, 2013, SI Resources announced that the transaction is expected to close on July 31, 2013. As of July 26, 2013, the transaction is expected to close on August 30, 2013. As of August 30, 2013, transaction is expected to be completed on September 30, 2013.

As of September 30, 2013, the transaction has been postponed to December 31, 2013.