Dongwon Industries to delist wholly owned Dongwon F&B

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The story "Dongwon Industries to delist wholly owned Dongwon F&amp;B" was covered 6 days ago by Korea Economic Daily, a news publisher based in South Korea.

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Dongwon Industries to delist wholly owned Dongwon F&B - Korea Economic Daily

Quick Summary:

Dongwon Industries Co., the holding company of South Korea’s seafood-to-logistics Dongwon Group, will delist its canned tuna-manufacturing subsidiary after acquiring its 100% stake to accelerate its global expansion through more aggressive mergers and acquisitions.

Owning a 100% stake of Dongwon F&B, Dongwon Industries expects a streamlined decision-making process, allowing it to make prompt business decisions such as mergers and acquisitions under one control tower, a company official said.

Dongwon Industries on Monday announced in a regulatory filing that its board of directors approved a plan to wholly own Dongwon F&B Co.through a swap deal, in which the parent company will offer 0.9150232 new shares for every one share of the F&B subsidiary.