[Alpha Biz=(Chicago) Reporter Kim Jisun] DBInc., an IT affiliate of DB Group, will merge with DB Metal to start anew as a complex company with five business divisions, including IT· trade, alloy steel, construction and brand.

DB Inc. decided to merge DB Metal by holding a board meeting on the 16th and decided to hold the agenda at an extraordinary shareholders' meeting in December.

The merger is scheduled to be finalized in February next year after a special resolution at the shareholders' meeting. The merger ratio is 1 (DB inC) versus 0.32 (DB Metal).

The board of directors explained the reason for the merger, saying, "Although existing IT· trade and brand businesses are achieving stable growth, in order to overcome the global recession and continue to grow, we need to secure a business portfolio that will create synergy with existing businesses and create new growth engines."

DB Metal is the world's No. 1 alloy iron company in the field of alloy iron and the world's second largest alloy iron company in the field of alloy iron.

 

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