Daesang Corporation (KOSE:A001680) and Daesang Europe B.V signed a contract to acquire Lysine business division from Paik Kwang Industrial Co., Ltd. (KOSE:A001340) for KRW 120 billion on August 26, 2015. KRW 20 billion will be sold to Daesang Europe B.V. The transaction is subject to approval by the shareholders of Paik Kwang Industrial at the meeting to be held on October 8, 2015. As on October 08, 2015, the transaction was approved by the shareholders of Paik Kwang Industrial Co., Ltd. The transaction is expected to complete by November 1, 2015. The payment is expected to be made on November 27, 2015. Sungto Corp acted as valuation agent for Paik Kwang Industrial. Ayoung KIM of Bae Kim & Lee acted as legal advisor to Daesang Corporation.

Daesang Corporation (KOSE:A001680) and Daesang Europe B.V completed the acquisition of Lysine business division from Paik Kwang Industrial Co., Ltd. (KOSE:A001340) on November 1, 2015.