AJ Rent A Car Co., Ltd. (KOSE:A068400) agreed to acquire SK Rent-a-Car from SK Networks Company Limited (KOSE:A001740) for approximately KRW 160 billion on September 23, 2019. The acquisition excludes one shop for long-term car lease. As consideration, AJ Rent A Car will issue shares to SK Networks which will raise SK Networks' stake in AJ Rent A Car by 21.99% to 64.23%.

The transaction is expected to complete on December 31, 2019.