The Sports Seoul Co., Ltd. (KOSDAQ:A039670) agreed to acquire 99.9% stake in Aspac Investment Partnership from Pishions Partners Co., Ltd. for KRW 20 billion on December 12, 2017. Out of the consideration, KRW 10 billion is payable on December 12, 2017 and balance on December 22, 2017. As on December 22, 2017, after the amendment of the deal, the balance will be paid on December 28, 2017. The consideration will be funded from own funds. As on November 29, 2017, Aspac Investment Partnership reported total and net assets of KRW 13.01 billion. The Board of Directors of The Sports Seoul Co., Ltd. resolved the deal on December 12, 2017. The deal is expected to close on December 22, 2017. As on December 22, 2017, the scheduled acquisition date was revised from December 22, 2017 to December 28, 2017. E-Chon Accounting Corporation acted as external rating institution.