View of E-mart in downtown Seoul (photo = E-mart)

 

[Alpha Biz= Reporter Kim Jisun] E-Mart will merge with E-Mart Everyday, an unlisted subsidiary of a corporate supermarket.

E-Mart and E-Mart Everyday each held a board meeting on the 16th to decide on such a merger.

The merger decision is aimed at expanding the effect of creating integrated synergy that has been pursued since E-Mart CEO Han Chae-yang concurrently served as head of both companies in September last year.

"E-Mart will absorb and merge E-Mart Everyday to integrate management resources among its affiliates," the two companies said in a public announcement. "The merger is aimed at promoting the efficiency of organizational operation and sustainable growth through strengthening market competitiveness and synergy."

E-Mart currently holds 99.28% of the total number of shares issued by E-Mart Everyday. The merger will be carried out without capital increase without issuing new shares.

The merger contract date is the 30th of this month and the scheduled merger date is June 30th.

 

 

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