Zero To Seven Inc. (KOSDAQ:A159580) signed a merger contract to acquire CK Package Co., Ltd from CK Corporations for KRW 65.9 billion on June 25, 2018. Under the terms, Zero To Seven Inc. will acquire CK Package Co., Ltd in a statutory merger with exchange ratio between Zero To Seven Inc.: CK Package Co., Ltd of 1: 38.7131827. As a result, Zero To Seven Inc. will issue 7.7 million shares as the consideration. Post completion, Zero To Seven Inc. will be the surviving company and CK Package Co., Ltd will be the dissolved company. CK Package Co., Ltd had total assets of KRW 36.56 billion, total capital of KRW 29.09 billion, sales of KRW 11.7 billion, and net profit of KRW 2.06 billion in 2017. The transaction is subject to the approval of the shareholders of Zero To Seven Inc. and it was resolved by the Board of Directors of Zero To Seven Inc. on June 25, 20118. General meeting of the shareholders is expected to be held on September 14, 2018. The transaction has been approved by the shareholders of Zero To Seven Inc. at the meeting held on September 14, 2018. The transaction is expected to close on November 1, 2018. Ernst & Young, Korea acted as an external rating institution in the transaction.