by Kim Yuri
Published 11 May.2021 17:37(KST)
[Asia Economy Reporter Yuri Kim] Hanwha Hotels & Resorts announced on the 11th that it has decided to merge with Hanwha Estate.
Hanwha Hotels & Resorts will absorb Hanwha Estate through a merger. Hanwha Estate will be dissolved by the merger, and Hanwha Hotels & Resorts will continue to exist. The merger ratio between Hanwha Hotels & Resorts and Hanwha Estate is 1 to 0.1963881.
The company explained that the merger was decided to improve management efficiency and strengthen business competitiveness. The merger date is July 1.
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