SK Energy Co., Ltd. agreed to acquire oil wholesale business segment of SK Networks Company Limited (KOSE:A001740) for approximately KRW 300 billion on August 10, 2017. Under the terms of the agreement, 10% of the consideration will be paid within five days from the contract date and the remaining will be paid on completion. The result of the exercise of stock option of shareholders who are against the business selling and acquisition they exercise their stock option between September 27, 2017 to October 16, 2017. The Oil Wholesale Business Segment generated sales of KRW 5.5 trillion for the year ended December 31, 2016. On August 10, 2017, the transaction was resolved by the Board of Directors of SK Energy Co., Ltd. The plan date of shareholders meeting of SK Energy Co., Ltd. is September 26, 2017. As on September 26, 2017, the shareholders of SK Networks Company Limited approved the transaction. The transaction is expected to complete on October 31, 2017. SK Energy Co., Ltd. cancelled the acquisition of oil wholesale business segment of SK Networks Company Limited (KOSE:A001740) on August 10, 2018.