NEOFECT Co.,Ltd (KOSDAQ:A290660) agreed to acquire 86.7% in Long Life Green Care Co., Ltd. from Korea Yakult Co., Ltd. and NEOPLY for KRW 6.1 billion on July 10, 2019. As per terms a total of 0.21 million shares will be acquired in cash. The sellers will sell 0.09 million shares for KRW 2.6 billion and 0.12 million shares for KRW 3.5 billion respectively. The consideration is payable on July 10, 2019. The deal will be funded from internal surplus funds and the first convertible bond payment of other corporate securities acquired funds. For the year ended December 31, 2018, Long Life Green Care Co., Ltd. reported total assets of KRW 3.3 billion, net liabilities of KRW 80.4 million, revenues of KRW 3.4 billion and net income of KRW 125.3 million. The Board of Directors of NEOFECT Co.,Ltd resolved the deal on July 10, 2019. The deal is expected to close on July 10, 2019. NEOFECT Co.,Ltd (KOSDAQ:A290660) cancelled the acquisition of 86.7% in Long Life Green Care Co., Ltd. from Korea Yakult Co., Ltd. and NEOPLY on July 10, 2020.