Daesang Corporation (KOSE:A001680) agreed to acquire 99.99% stake in Duc Viet Food Joint-Stock Company for KRW 37.5 billion on June 15, 2016. Daesang Corporation will acquire 12.99 million shares of Duc Viet Food in the deal. Duc Viet Food Joint-Stock Company reported sales of KRW 31 billion, net profit of KRW 2 billion and total assets of KRW 16.14 billion for the year ended December 31, 2015. The Board of Directors of Daesang Corporation resolved the deal on June 15, 2016. The deal is expected to close on August 5, 2016. As of August 11, 2016, the deal is still pending. As of September 8, 2019, transaction is now expected to close on September 30, 2016.