Handsome Global Co., Ltd and HYUNDAI G&F Co., Ltd. agreed to acquire fashion business from SK Networks Company Ltd. (KOSE:A001740) for KRW 326.1 billion on December 8, 2016. Under the terms, Handsome Global Co., Ltd will acquire the brands (Obzee, Oz Second, Y&Kei, Second Floor, Club Monaco etc.), uniform business, Chinese corporations for KRW 100 billion. Under the terms, HYUNDAI G&F will acquire the brands (Tommy Hilfiger, DKNY CK, Canali, AEO, Rouge & Lounge, SJYP, etc.), American corporations for KRW 226.1 billion. As per the amendment on February 24, 2017, Handsome Global Co., Ltd will acquire the brands (Obzee, Oz Second, Y&Kei, Second Floor, Club Monaco etc.) and Local corporations in China for KRW 80.4 billion and HYUNDAI G&F will acquire the brands for KRW 219.56 billion. The fashion business had sales of KRW 566.3 billion. The transaction was resolved by the Board of Directors of SK Networks Company Ltd. The transaction is expected to close on February 28, 2017. Kim & Chang acted as legal advisor for Handsome Global Co., Ltd and HYUNDAI G&F Co., Ltd. in the transaction. Credit Suisse Group Finance (U.S.) Inc. acted as financial advisor to SK Networks Company Ltd. Handsome Global Co., Ltd and HYUNDAI G&F Co., Ltd. completed the acquisition of fashion business from SK Networks Company Ltd. (KOSE:A001740) for approximately KRW 320 billion on February 28, 2017. As per the amendment received on June 28, 2017, KRW 24.1 billion will be paid upon the settlement of payment after the closing of the transaction.