ANDu Entertainment Co.,Ltd (XKON:A266170) agreed to acquire Sports United Co., Ltd. from Kiyoung Jang and Bliemeister Thies for KRW 11.8 billion on June 5, 2019. As per terms, all 6800 shares will be acquired in cash. As per terms, KRW 5.8 billion will be paid on June 5, 2019 and balance KRW 6.02 billion on December 15, 2019. For the year ended December 31, 2018, Sports United Co., Ltd. reported total assets of KRW 127 million, net liabilities of KRW 38 million, sales of KRW 477 million and net income of KRW 172 million. The Board of Directors of ANDu Entertainment Co.,Ltd resolved the deal on June 5, 2019. The deal is expected to close on December 15, 2019. ANDu Entertainment Co.,Ltd (XKON:A266170) cancelled the acquisition of Sports United Co., Ltd. from Kiyoung Jang and Bliemeister Thies on December 13, 2019. The agreement is cancelled due to the inability to fulfill the prerequisites under the Stock Sale Agreement.