Ariel Partners Co., Ltd. signed a contract to acquire 6.54% stake in PharmswellBio Co., Ltd. (KOSDAQ:A043090) from Diorpharm Co., Ltd. and Youngjin Jang for KRW 8 billion on November 27, 2018. As consideration, a down payment of KRW 800 million shall be made on contract signing date, Diorpharm and Youngjin Jang will receive approximately KRW 550 million and approximately KRW 250 million respectively for 0.17 million shares. Second payment of KRW 3.2 billion shall be paid on December 4, 2018, Diorpharm and Youngjin Jang will receive KRW 2.2 billion and KRW 1 billion respectively for 0.7 million shares. Remaining balance shall be paid on shareholders meeting date, Diorpharm and Youngjin Jang will receive KRW 2.7 billion and KRW 1.3 billion respectively for 0.87 million shares. Under the transaction, Diorpharm and Youngjin Jang will sale 1.2 million shares and 0.55 million shares respectively. Post transfer, Diorpharm Co., Ltd. and Youngjin Jang will not hold any stake in PharmswellBio Co., Ltd. The transaction is expected to be completed by January 25, 2019. Ariel Partners Co., Ltd. cancelled the acquisition of 6.54% stake in PharmswellBio Co., Ltd. (KOSDAQ:A043090) from Diorpharm Co., Ltd. and Youngjin Jang on January 25, 2019. The contract is cancelled due to the Ariel Partners violation of statements and warranty.