CKM Co., Ltd. signed an agreement to acquire CJ HealthCare Corp from CJ Cheiljedang Corporation (KOSE:A097950) for KRW 1.3 trillion on February 19, 2018. Under the terms, CJ Cheiljedang Corporation will sell 2 million shares of CJ HealthCare Corp. Out of total consideration; KRW 50 billion will be paid on agreement date and remaining on closing date. CKM Co., Ltd. is selected as the preferred bidder for the sale of CJ HealthCare. The transaction will be funded through retained funds and borrowings/loans.

For the year ended December 31, 2017, CJ HealthCare Corp reported revenues of KRW 520.5 million and net income of KRW 56.5 billion. As of December 31, 2017, CJ HealthCare Corp reported total assets of KRW 526.9 billion and net assets of KRW 374.4 billion. The transaction is resolved by the Board of Directors of CJ Cheiljedang Corporation and Kolmar Korea Co., Ltd., parent of CKM Co., Ltd. on February 20, 2018. On April 4, 2018, the deal is resolved by Kolmar Korea Co., Ltd. again. The transaction is expected to close on April 6, 2018. As on April 4, 2018, the deal is expected to close on April 17, 2018. As on April 6, 2018, the deal is expected to close on April 18, 2018.

KPMG Samjong Accounting Corp. acted as external rating institution. Deutsche Securities Korea Co., Ltd. acted as financial advisor for Kolmar Korea Co., Ltd. while Morgan Stanley & Co. International Plc (Korea) acted as financial advisor for CJ Cheiljedang Corporation.

CKM Co., Ltd. completed the acquisition of CJ HealthCare Corp from CJ Cheiljedang Corporation (KOSE:A097950) on April 18, 2018.