SL Corporation (KOSE:A005850) signed a contract to acquire the remaining 66.54% stake in SL Lighting Company Ltd for approximately KRW 280 billion on December 18, 2018. Under the terms of transaction, SL Corporation will issue 14.3 million shares to acquire remaining 66.54% stake at a merger ratio of 1:12.5003152. Post completion, SL Corporation will hold 100% stake in SL Lighting Company Ltd and SL Corporation will be the surviving entity. For the year ended December 31, 2017, SL Lighting Company Ltd had total assets of KRW 585.5 billion, net sales of KRW 420.7 billion, sales of KRW 899.2 billion and net profit of KRW 31.7 billion. The transaction is subject to approval of shareholders of SL Lighting Company Ltd and SL Corporation. The shareholders meeting of SL Corporation is scheduled to be held on February 15, 2019. The transaction has been resolved by the Board of SL Corporation. Kyungshin Accounting Corporation acted as external ratings institution in the transaction. As of February 15, 2019, the shareholders of SL Corporation approved the transaction. The transaction is expected to be completed by April 1, 2019.