Kakao Absorbs Kakao Space Merger "No Change in Shareholding Structure"
"Expected Improvement in Management Efficiency and Synergy Effects"
Kakao will absorb and merge its real estate development subsidiary, Kakao Space.
On the 7th, Kakao held a board meeting and announced that it resolved to absorb and merge its real estate development subsidiary, Kakao Space.
Established in May 2015, Kakao Space is a real estate development and supply company wholly owned by Kakao. Its main businesses include real estate development consulting, architectural design and supervision, and interior design and construction.
Through the announcement, Kakao explained, "Since this is a non-capital increase merger without issuing new shares, there will be no change in the shareholding structure after the merger," adding, "Synergy effects are expected from improved management efficiency through a complete subsidiary merger and integrated business operations."
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The merger date for Kakao's absorption of Kakao Space is May 1.
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