Samyang Resource Co., Ltd. and Jangwon Ind Co., Ltd. agreed to acquire Ready-Mixed Concrete Business of SG Co., Ltd. (KOSDAQ:A255220) for KRW 67 billion on January 13, 2022. Samyang Resource Co., Ltd. and Jangwon Ind Co., Ltd. signed a contract to acquire Ready-Mixed Concrete Business of SG Co., Ltd. (KOSDAQ:A255220) on February 11, 2022. As per the terms of the deal, Samyang Resource Co., Ltd. will pay KRW 2.5 billion in cash on the signing of the contract, KRW 7.5 billion on February 14, 2022, and remaining KRW 15 billion on February 25, 2022.

Jangwon Ind Co., Ltd. will pay KRW 4.2 billion on the signing of the contract, KRW 12.6 billion on February 14, 2022, and KRW 25.2 billion on February 25, 2022. The Board of Directors of SG Co., Ltd. have resolved the deal on January 13, 2022. The transaction is expected to close on February 25, 2022.