Xi S&D Inc. agreed to acquire 4 gas stations including 62-7, Mia-dong, Gangbuk-gu, Seoul Land and buildings from SK Networks Company Limited for KRW 55.5 billion.

Xi S&D Inc. (KOSE:A317400) agreed to acquire 4 gas stations including 62-7, Mia-dong, Gangbuk-gu, Seoul Land and buildings from SK Networks Company Limited (KOSE:A001740) for KRW 55.5 billion on May 28, 2020. The consideration shall be paid in cash funded through internally and secured loan. Xi S&D Inc. will acquire 4 gas station namely Saehan (Miari), Songpa, Jungnang Bridge and Gwangdeok.

The board of directors of Xi S&D Inc. approved the transaction on May 28, 2020. SAMYOUNG Accounting Corporation acted as an external evaluator for the property.