Asia Pacific Satellite Communications Inc. (KOSDAQ:A211270) agreed to acquire Asia Pacific Aerospace Incorporated for KRW 16 billion on August 8, 2016. Under the transaction, Asia Pacific Aerospace Incorporated shareholders will receive 1 Asia Pacific Satellite Communications share for every 0.43 shares. Asia Pacific Satellite Communications will issue 1.9 million new shares for the merger. The transaction is expected to be effective from November 1, 2016. Asia Pacific Aerospace will be dissolved after the merger. As of September 29, 2016, the shareholders of Asia Pacific Satellite Communications approved the deal. The transaction is expected to close on November 4, 2016. Asia Pacific Satellite Communications Inc. (KOSDAQ:A211270) completed the acquisition of Asia Pacific Aerospace Incorporated on November 1, 2016. For the year ended December 31, 2015, Asia Pacific Aerospace Incorporated reported total assets of KRW 16.5 billion.