Redwoods Co., Ltd. (XKON:A266170) agreed to acquire 50.01% stake in Sawoleil Co., Ltd for approximately KRW 750 million on April 27, 2018. Under the terms, Redwoods Co., Ltd will issue 0.12 million shares as consideration shares. The payment date for 0.12 million shares is on July 26, 2018. For the year ended December 2017, Sawoleil Co., Ltd reported sales of KRW 1.2 billion and current net income of KRW 139 million. As on December 31, 2018, Sawoleil Co., Ltd had total assets of KRW 1.9 billion and total capital of KRW 1.53 billion. The transaction is resolved by the Board of Directors of Redwoods Co., Ltd on April 27, 2018. The transaction is expected to be completed on May 28, 2018. As per the amendment report on May 28, 2018, the transaction is now expected to complete on July 13, 2018. As per the amendment report on July 13, 2018, the transaction is now expected to complete on August 30, 2018. As of July 26, 2018, the completion date is proponed to July 26, 2018. Redwoods Co., Ltd. (XKON:A266170) cancelled the acquisition of 50.01% stake in Sawoleil Co., Ltd on April 27, 2019.