Daewoo Winia Dispatches Advisory Group to Namyang Dairy Products... Initiates Management Normalization Efforts

[Asia Economy Reporter Seungjin Lee] Daewoo Winia, which signed a share sale agreement with Namyang Dairy Products, has dispatched an advisory team and begun full-scale management normalization efforts.

On the 16th, Namyang Dairy Products announced that a Daewoo Winia advisory team consisting of 20 experts in various fields such as finance and accounting is discussing overall management and cooperating with Namyang Dairy Products employees.

The dispatch of this advisory team was carried out as part of the 'Mutual Cooperation Implementation Agreement' signed between Namyang Dairy Products major shareholders, including Chairman Hong Won-sik, and Daewoo Winia.

Namyang Dairy Products explained that the advisory team is visiting Namyang Dairy Products business sites nationwide, including the headquarters building, factories, and sales branches, collaborating to resolve current issues. The advisory team plans to work with Namyang Dairy Products to improve matters deemed necessary to enhance shareholder value, such as establishing a compliance system and improving customer trust.

Additionally, Namyang Dairy Products and Daewoo Winia plan to carry out social contribution activities through their cooperative relationship, aiming to fulfill corporate social responsibility by addressing various social issues and supporting marginalized neighbors in the community.

The Daewoo Winia Group operates mainly in manufacturing, including Winia Electronics, Winia Dimchae, Daewoo A-Tech, and Daewoo A-P. In the past, it has acquired companies such as Samwon Enterprise, Changup Mutual Savings Bank, Winia Mando, and Dongbu Daewoo Electronics, successfully turning them profitable and gaining experience in successful mergers and acquisitions (M&A). Daewoo Winia plans to leverage this success and its existing B2C and B2B channels to help Namyang Dairy Products, currently focused on the domestic market, pioneer new markets.

Previously, Chairman Hong signed a share sale contract with Hahn & Company but failed to reach a final agreement. Both parties blamed each other for the failed sale and entered litigation. Subsequently, Chairman Hong and other major shareholders of Namyang Dairy Products signed a mutual cooperation implementation agreement with Daewoo Winia Group for the sale of shares (53.08%) and management rights.

The mutual cooperation implementation agreement is a 'conditional agreement' stating that if Namyang Dairy Products wins the final legal battle against Hahn & Company and share transfer becomes possible, the shares and management rights will be sold together to Daewoo Winia Group. The sale price has been tentatively set at 320 billion KRW.

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