Wings Group Co., Ltd. signed a contract to acquire 9.87% stake in PharmswellBio Co., Ltd. (KOSDAQ:A043090) from IBDT Co., Ltd. for KRW 6.8 billion on September 9, 2015. Wings Group Co., Ltd. is acquiring 1.9 million shares and paying KRW 3600 per share. As of November 25, 2015, the contract was amended and the stake would now be acquired by The All Pharmaceutical Co., Ltd. As per the amended terms of the transaction, first installment for the transaction was paid on November 25 and balance will be paid by June 30, 2016.

In a related transaction, The All Pharmaceutical Co., Ltd. will acquire approximately 2.19 million shares in PharmswellBio from Merit-In. The All Pharmaceutical will pay KRW 7.3 billion on November 25, 2015 and make the balance payment of KRW 8.9 billion on December 29, 2015 for both the transactions. As on December 21, 2015, KRW 1.8 billion was paid.

As of March 22, 2016, the balance payment of KRW 8.9 billion will be made on June 30, 2016. The transaction is expected to complete on December 24, 2015.