Cloud Magic Co., Ltd agreed to acquire 35.13% stake in YD Online Corp. (KOSDAQ:A052770) from Shinian Inc for KRW 32.8 billion on December 27, 2017. Under the terms, Cloud Magic will acquire 8.56 million shares at KRW 3,834 per share. The consideration of KRW 4.95 billion for acquiring 1.3 million shares paid on December 29, 2017 and will be carried out by repaying the principal in a manner that is offset against the receivables from Cloud Magic and remaining consideration of KRW 27.9 billion for acquiring 7.3 million shares will be paid on January 19, 2018. As per amendment, on January 15, 2018, Cloud Magic Co., Ltd. will pay a second installment of KRW 4 billion for acquiring 1 million shares by repaying the principal in a manner that is offset against the receivables from Cloud Magic Co., Ltd. The third installment of KRW 23.9 billion for acquiring 6.2 million shares will be paid on January 19, 2018. As per amendment, on January 18, 2018, Cloud Magic Co., Ltd. will pay first installment of KRW 4.9 billion for 1.29 million shares on December 29, 2017, second installment of KRW 4 billion for 1.04 million shares on January 15, 2018, third installment of KRW 2 million for 0.52 million share, and fourth installment of KRW 21.87 billion for 5.7 million shares on January 19, 2018. The first, second and third installments will be carried out by repaying the principal in a manner that is offset against the receivable from Cloud magic. As per amendment, on January 19, 2018, Cloud Magic Co., Ltd. will pay fourth installment of KRW 21.87 billion for 5.7 million shares on February 13, 2018. If the transaction is not completed by February 13, 2018, then it will be terminated. As per amendment, on January 29, 2018, Cloud Magic Co., Ltd. will pay fourth installment of KRW 1.05 billion for 0.27 million shares on January 29, 2018 and fifth installment of KRW 20.8 billion for 5.4 billion shares on February 13, 2018. Post-acquisition, Shinian Inc will not hold any shares in YD Online. Post transaction, Jongsub Byun and Namkyu Kim will join as Chief executive officer and Chul, Shin Sang will no longer be the Chief executive officer of YD Online. The transaction is expected to close on January 19, 2018. As per the new terms of amendment the 5th payment will be done on February 27, 2018 instead of February 13, 2018. If the payment is not completed by February 27, 2018, then it will be terminated.