Han&Co "Namyang Dairy Products, Contract Valid"‥Chairman Hong's Side Cannot Sell Shares

[Asia Economy Reporter Park So-yeon] Han & Company immediately issued a rebuttal statement saying "the contract is still valid" in response to Namyang Dairy Products Chairman Hong Won-sik's announcement of the deal's collapse.

On the 1st, Han & Company stated, "Chairman Hong Won-sik's announcement that the contract was terminated after August 31 is not true and is legally unfounded. The contract is still valid, and the court has accepted Han & Company's position and issued a provisional injunction to prevent Chairman Hong's shares from being disposed of arbitrarily."

Earlier, on the 23rd of last month, Han & Company filed a provisional injunction to prohibit electronic registration stock disposal against Chairman Hong, and the Seoul Central District Court granted it.

Han & Company also explained, "After the announcement of the main contract, Chairman Hong's side requested difficult-to-accept matters such as price renegotiation. Then, after mid-August, they suddenly began to present unreasonable demands as 'preconditions' for closing the deal."

Regarding Chairman Hong's side's claim that this contract is "unequal and only favorable to the buyer," Han & Company firmly denied it as groundless.

In particular, they emphasized that Chairman Hong's side, after consulting M&A experts, reached an agreement through considerable negotiation and was the party that demanded strong measures to ensure the certainty of the transaction.

This content was produced with the assistance of AI translation services.