Snura Co., Ltd., Phaeton Private Equity Co., Ltd., Ino Technologies Inc and an unknown buyer signed a contract to acquire 49.38% in Woorim Machinery Co., Ltd. (KOSDAQ:A101170) from Hyunseok Han for KRW 60 billion on November 21, 2016. Under the terms, 6.7 million shares will be acquired at KRW 9000 per share and Snura Co., Ltd. will acquire 1.3 million shares, Phaeton Private Equity Co., Ltd. will acquire 2.6 million shares and INO Technologies Inc. will acquire 0.33 million Woorim Machinery Co., Ltd. shares. Out of the consideration, KRW 6 billion is payable as deposit to corporate escrow account; KRW 24 billion will be paid after a month of contract signing and the balance on January 2, 2017 to the corporate escrow account. As of November 28, 2016, part of the deposit, KRW 4 billion, was deposited to the corporate escrow account. Snura Co., Ltd., Phaeton Private Equity Co., Ltd., Ino Technologies Inc and 2 others signed a contract to acquire 49.38% in Woorim Machinery Co., Ltd. from Hyunseok Han for KRW 60 billion on December 14, 2016. The contract may be cancelled in case of payment failure for the balance of KRW 2 billion within 10 days of receiving the written requirement for rectification. Post completion, Sungjun Kim will be the largest shareholder in Woorim Machinery Co., Ltd. holding 2.6 million shares or 18.9% stake. As of January 25, there is change in buyers, Bison Co., Ltd and two others will acquire the stake. Bison Co., Ltd acquired 2.22 million shares at the price of KRW 9,000 per share. The deal is expected to close on January 2, 2017. As of December 14, 2016, the scheduled acquisition date has been changed to February 8, 2017. On December 20, 2016, Mr Holdings Co., Ltd. acquired 11.52% stake in Woorim Machinery Co., Ltd. Mr Holdings Co. acquired 1.55 million shares of Woorim Machinery Co. As of December 27, 2016, the scheduled acquisition date has been changed to February 28, 2017. As of December 30, 2016, the second payment has not been done. On January 13, 2017, the deal is partially completed as 0.3 million shares were transferred. On January 24, 2017, the deal is partially completed as 0.44 million shares were transferred and KRW 4 billion was paid. As on January 24, 2017, Hyunseok Han sold 0.44 million shares to Mr Holdings Co., Ltd. and Snura Co., Ltd., under the terms Hyunseok Han sold 0.33 million Woorim Machinery Co., Ltd. shares to Mr Holdings Co., Ltd. and sold 0.11 million Woorim Machinery Co., Ltd. shares to Snura Co., Ltd. On January 25, 2017, the deal is partially completed as Mr Holdings Co., Ltd. completed the acquisition of 1.6 million shares. As per amendment on January 25, 2017 Hyuk Im and two others will acquire 49.38% stake in Woorim Machinery Co., Ltd. The scheduled acquisition date has been further changed from February 28, 2017 to February 24, 2017.As per the amendment dated February 16, 2017, the buyers will deposit KRW 5 billion that was not deposited as of the change contract date from the second payment amount of KRW 12 million on February 21, 2017 and the seller will transfer the corresponding number of target shares 0.55 million shares to the buyers. The buyers will pay the 3rd payment to the seller’s account, and the seller will transfer 1.3 million Woorim Machinery Co., Ltd. shares to the buyers on February 28, 2017. As of this change contract date, KRW 1 billion scheduled to be deposited hasn’t been deposited yet. As per the amendment dated February 23, 2017, partial payment of the second payment made and corresponding number of shares were transferred and KRW 1 billion scheduled to be deposited on the change contract date February 16, 2017 was deposited KRW 500 million on February 21, 2017 and KRW 500 million on February 22, 2017, hence the corresponding number of Woorim Machinery Co., Ltd. shares of 0.1 million were transferred