Fourth-Link Inc. (KOSDAQ:A056730) agreed to acquire 39.7% stake in Diagen, Inc. from Saehwa IMC Co., Ltd. (KOSE:A145210) for KRW 11 billion on August 28, 2018. Under the terms of the transaction, Fourth-Link Inc. will acquire 4 million shares of Diagen, Inc. Out of total consideration, Fourth-Link Inc. will pay KRW 1.1 billion on August 28, 2018, KRW 2.9 billion on August 31, 2018, and remaining KRW 7 billion on October 1, 2018. The transaction will be funded from internal retained funds and external supply funds. For the year ended December 31, 2017, Diagen, Inc. reported total assets of KRW 1.7 billion, total capital of KRW 1.1 billion, and net loss of KRW 906.2 million. The transaction was resolved by the Board of Fourth-Link Inc. and Saehwa IMC Co., Ltd. on August 28, 2018. The transaction is expected to close on October 1, 2018. BDO Daejoo LLC acted as external rating institution.

Fourth-Link Inc. (KOSDAQ:A056730) cancelled the acquisition of 39.7% stake in Diagen, Inc. from Saehwa IMC Co., Ltd. (KOSE:A145210) on August 28, 2019.