WooGene B&G Co., Ltd. (KOSDAQ:A018620) agreed to acquire OSP Co., Ltd. from Taejun Kim, Hyewon Kim and Jiwon Kim for KRW 22.5 billion on October 14, 2019. As per the terms of the agreement, WooGene will make a down payment of KRW 1.1 billion in cash as the first intermediate payment on October 14, 2019, KRW 10.2 billion in cash as the secondary intermediate payment on October 31, 2019 and KRW 1.7 billion won in cash along with 2 billion won in convertible bonds as the third intermediate payment on December 31, 2019. The balance cash payment will be done in two installments of KRW 3 billion on January 31, 2021 and KRW 4.5 billion on September 30, 2022. Taejun Kim will be selling 0.048 million shares, Hyewon Kim will be selling 0.016 million shares and Jiwon Kim will be selling 0.016 million shares in OSP. For the consolidated financial statements as of December 31, 2018, OSP had total assets of KRW 7.4 billion, total capital of KRW 4 billion, revenues of 12.1 billion and net income of KRW 1.1 billion. The transaction is expected to be completed by December 31, 2019. Il Shin Accounting Corporation acted as the external evaluator for the transaction.