Sungdo Engineering & Construction Co., Ltd. (KOSDAQ:A037350) agreed to acquire remaining 19.96% stake in Sungdo Leaders & Development Co., Ltd. from Insoo Seo for KRW 12 billion on April 17, 2017. Sungdo Engineering & Construction Co., Ltd will acquire 1 million shares of Sungdo Leaders & Development Co., Ltd in cash. As part of consideration KRW 6 billion will be paid on the contract signing date and the remaining balance will be paid on July 17, 2017. After the transaction, Sungdo Engineering & Construction Co., Ltd will hold 100% stake in Sungdo Leaders & Development Co., Ltd. Sungdo Leaders & Development Co., Ltd reported total assets of KRW 97.38 billion, shareholders' equity of KRW 55.57 billion, sales of KRW 0 and net loss of KRW 1.87 billion in 2016. The Board of Directors passed a resolution for the transaction on April 17, 2017. The transaction is expected to be completed on July 17, 2017.