[Alpha Biz= Kim Jisun] Huons Group is consolidating its pharmaceutical business capabilities under Huons, as the company moves to absorb its wholly owned subsidiary Huons Life Sciences.
Huons announced on April 22 that it has decided to merge with Huons Life Sciences through a small-scale merger. The two companies plan to sign a merger agreement on April 23 and complete the process in June following the required regulatory filings and procedures.
The merger will be conducted as a simplified, non-cash transaction without the issuance of new shares, as Huons holds a 100% stake in the subsidiary. As a result, there will be no changes to management control or the largest shareholder following the merger.
The record date for shareholders is set for May 7, while the merger is scheduled to take effect on June 23. Registration procedures are expected to be completed within June.
Huons said the decision was made to enhance management efficiency through the integration of resources. The company plans to reorganize its business structure by consolidating pharmaceutical operations, which had been split between Huons and Huons Life Sciences.
Through the merger, Huons aims to strengthen its overall pharmaceutical business, including contract manufacturing (CMO), leveraging Huons Life Sciences’ Osong manufacturing facility.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
