Hanwha Solutions to Merge with Hanwha Galleria and Hanwha Urban Development
[Asia Economy Reporter Kum Boryeong] Hanwha Solutions announced on the 8th that it will absorb and merge Hanwha Galleria to enhance management efficiency and strengthen business competitiveness.
Through this merger, Hanwha Galleria will be dissolved, and Hanwha Solutions will continue to exist.
Hanwha Solutions stated, "With this merger, Hanwha Galleria will be dissolved, and Hanwha Solutions will succeed and operate all of Hanwha Galleria's existing businesses," adding, "This merger is a non-capital increase merger without issuing new shares, so there will be no change in the composition or shareholding ratio of Hanwha Solutions' shareholders."
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In addition, Hanwha Solutions will merge Hanwha Urban Development through a spin-off merger. Among Hanwha Urban Development's business divisions, all except the Ulju real estate-related division will be spun off and absorbed by Hanwha Solutions, while Hanwha Urban Development will continue as a company operating the Ulju real estate-related business.
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