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Photo = Binggrae |
[Alpha Biz= Reporter Kim Sangjin] Binggrae announced on the 22nd that it will split into a holding company and an operating company in May next year.
The split will see the holding company focus on investment businesses such as new business investments and subsidiary management, while the operating company will concentrate on its main business operations.
The new entity, tentatively named 'Binggrae', will operate independently in the production and sale of dairy products and other food items. This structure aims to enhance business expertise, strengthen growth strategies, and improve competitiveness in response to rapidly changing market conditions.
The remaining entity, tentatively named 'Binggrae Holdings', will transition into a holding company under the Monopoly Regulation and Fair Trade Act. The holding company will strategically manage its investment and business portfolios and expand its overseas business, aiming to maximize synergies between affiliates like Binggrae and Haitai Ice Cream for long-term growth.
To maximize shareholder value and improve corporate value, Binggrae plans to cancel all 1,009,440 of its treasury shares (10.25% of total shares) through a future board resolution.
Due to this important announcement, trading of Binggrae’s shares will be suspended from 3:44 PM on the 22nd until 9 AM on the 25th.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
