Chosun Refractories Co.,Ltd. (KOSE:A000480) agreed to acquire Insadong PFV Co., Ltd. for KRW 54.1 billion on June 27, 2022. As per the terms, 1,000,000 shares will be acquired and consideration will be payable in cash. For December 31, 2021, Insadong PFV reported total assets of KRW 53.1 billion, net liability of KRW 1.7 billion, sales of KRW 6.8 million and net loss of KRW 4.6 billion.

The transaction is expected to complete on September 20, 2022. As on September 20, 2022, The terms of the deal is revised to KRW 54.1 billion.