LG Chem, Ltd. (KOSE:A051910) won the bid to acquire Dongbu Farm Hannong Co., Ltd. from a group of sellers for approximately KRW 520 million in cash on November 11, 2015. The group of sellers consist of Wonik Investment Partners Co., Ltd., STIC Investments, Inc, Q Capital Partners Co., Ltd., Dongbu Inc. (KOSE:A012030) and others. Under the terms of the deal, Dongbu Inc. will sell 15.76 million shares of Dongbu Farm Hannong. 5% of the total transaction amount will be deposited at the contract signing date and the balance at the transaction end date. Dongbu Farm Hannong's consolidated reported debt totaled about KRW 678 billion at end-June 2015 and its consolidated reported operating income totaled KRW 72 billion in the first half of 2015. The deal is expected to be completed on March 11, 2016. LG Chem said that it will wrap up the deal by April 15, 2016. As of April 8, 2016, the consideration received by Dongbu was changed from KRW 42.38 billion to KRW 34.92 billion. Ernst & Young Han Young acted as external rating institution. Credit Suisse acted as the financial advisor for Wonik Investment Partners Co., Ltd., STIC Investments, Inc, Q Capital Partners Co., Ltd., Dongbu Inc. Lee & co acted as accountant to Farm Hannong.

LG Chem, Ltd. (KOSE:A051910) completed the acquisition of Dongbu Farm Hannong Co., Ltd. from a group of sellers on April 15, 2016.