Dongbang LTS agreed to acquire Dongbang City Gas Co.,Ltd. from E1 Corporation (KOSE:A017940) for KRW 7 billion on June 1, 2017. Under the terms, Dongbang LTS will acquire the entire assets, bonds, contracts etc. of Dongbang City Gas Co.,Ltd. The consideration is subject to change. For the year ended December 31, 2016, Dongbang City Gas Co.,Ltd. had total assets of KRW 12.17 billion and sales of KRW 38.37 billion. The transaction was resolved by the Board of Directors of LS Corp. The transaction is expected to close on July 1, 2017.