Sunchang Corporation (KOSE:A002820) signed a contract to acquire 80% stake in Darin Co.,Ltd from Jung-soo Kim, Tae-Hyun Kim, Kyung-sook Lee and Cha-Moon Yang for KRW 31.3 billion on January 30, 2015. Sunchang Corporation will acquire 6.35 million shares of Darin Co.,Ltd representing 80% stake. Under the terms of the deal, Sunchang Corporation will pay KRW 3.1 billion within 3 business days from the contract signing date and balance payment will be made within 15 business days following the various contract condition completion on the day that the concerned parties agreed on and this may be adjusted according to the settlement of accounts assessment increase or decrease of the assets.

The transaction is expected to close by March 31, 2015. PWC acted as financial advisor to Sunchang. Kwang Soo Lee, Chang Hyun Cheon, Joun Woo Park, Young Ju Lee and Eun Yeong Choi of One Law Partners, LLC acted as legal advisors for Sunchang Corporation.