Overview of HD Hyundai Oilbank's Daesan Plant
(Image Source: HD Hyundai Oilbank)

 

[Alpha Biz= Reporter Kim Sangjin] HD Hyundai Oilbank has decided to merge with its chemical subsidiary, HD Hyundai Cosmo, which it established in partnership with the Japanese oil company Cosmo Oil.

According to a disclosure on the Financial Supervisory Service's electronic disclosure system on the 25th, HD Hyundai Oilbank will absorb HD Hyundai Cosmo, in which it currently holds a 50% stake.

The company plans to acquire the remaining 50% stake from Cosmo Oil on November 1, bringing its total ownership to 100%.

The merger is scheduled to take place on December 30.

 

 

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