HS D&C Co., Ltd. signed a stock sales/acquisition contract to acquire 11.24% stake in Redrover Co.,Ltd (KOSDAQ:A060300) from Suning Universal Media Co., Ltd. for KRW 21.5 billion on March 20, 2018. The offer per share is KRW 4,300. KRW 3 billion will be paid as deposit on March 20, 2018, KRW 8.6 billion will be paid as second payment on March 23, 2018 and KRW 9.9 billion will be paid as balance payment on March 30, 2018. As part of the amendment report signed on March 23, 2018, HS D&C Co., Ltd. will pay the second payment of KRW 2 billion on March 26, 2018, third payment of KRW 6.6 billion on March 28, 2018 and the balance on April 5, 2018. Suning Universal Media Co., Ltd will transfer 2 million shares on second payment and the balance of 3 million shares will be transferred when HS D&C Co., Ltd. makes the balance payment. The deal is expected to close on March 30, 2018. The deal is now expected to close on April 5, 2018. HS D&C Co., Ltd. cancelled the acquisition of 11.24% stake in Redrover Co.,Ltd (KOSDAQ:A060300) from Suning Universal Media Co., Ltd. on March 28, 2018. The contract was cancelled due to non payment of acquisition amount.