Boryeong Decides on Absorption Merger with Liquon
[Asia Economy Reporter Oh Su-yeon] Boryung announced on the 24th that it will absorb and merge Riquon, in which it holds 100% of the shares.
The company expects that this merger will integrate overlapping businesses to achieve economies of scale, enhance management efficiency through cost reduction, and have a positive impact on the company's finances. Additionally, since the merging companies are jointly conducting pharmaceutical research and development, it is anticipated that by consolidating into a single corporation, the research and development capabilities for promising pipelines will be enhanced, and synergy creation such as business opportunity expansion through shared infrastructure will be possible.
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The merging company Boryung owns 100% of the issued shares of the merged company Riquon and does not plan to issue new shares for the merged company's stock. The merger date is set for December 27.
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