Songwon International AG agreed to acquire Songwon Holdings AG from Songwon Industrial Co., Ltd. (KOSE:A004430) for KRW 76.1 billion on November 25, 2016. For the year ended 2015, Songwon Holdings AG reported total assets of KRW 54.4 billion, total stockholders’ equity of KRW 53.6 billion, sales of KRW 0 and net loss of KRW 3.1 billion. Songwon Industrial approved the deal. The deal is expected to complete on November 25, 2016. Songwon International AG completed the acquisition of Songwon Holdings AG from Songwon Industrial Co., Ltd. (KOSE:A004430) on December 6, 2016.