Hahn & Company signed an agreement to acquire Bio Energy Business from SK Chemicals Co.,Ltd. (KOSE:A285130) for approximately KRW 380 billion on February 5, 2020. As of July 13, 2020, Hahn & Company adjusted the acquisition price to approximately KRW 390 billion. The consideration will be paid in cash at closing of the transaction is subject to adjustment. Hahn & Company transferred its position as a contractual party and all its obligations under the contract to K Green System Co., Ltd., a wholly owned subsidiary of Hahn & Company on February 19, 2020. The meeting of shareholders of SK Chemicals to be held on March 17, 2020. This transaction requires the approval of the Fair Trade Commission and SK Chemicals’ shareholders approval. The board of SK Chemicals passed the resolution on February 5, 2020. The transaction is expected to get closed on May 31, 2020. Jin-Won Lee and Gil-Ju Ryu of PricewaterhouseCoopers Korea, Financial Advisory Arm acted as financial advisors and PricewaterhouseCoopers Korea acted as an accountant to SK Chemicals.