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[Alpha Biz=(Chicago) Reporter Kim Jisun] Since the announcement of the merger with OCI Group, Hanmi Pharmaceutical Group has suffered internal feuds, raising the possibility of a management dispute.
According to the business community on the 15th, Hanmi Pharmaceutical announced the integration of the group with OCI on the 12th. OCI Holdings, the holding company of the OCI Group, will spend 770.3 billion won to acquire a total of 27% of Hanmi Science shares, including 18.6% of old and in-kind shares and 8.4% issuance of new shares, and major shareholders of Hanmi Science, including Lim Joo-hyun, head of the strategic planning office, will acquire a 10.4% stake in OCI. The announcement was made through a resolution of the board of directors.
Once the integration is completed, OCI Holdings will become an integrated holding company and Hanmi Science will become an intermediate holding company with pharmaceutical and bio subsidiaries. On top of that, an intermediate holding company in the material and chemical sectors will be created. After the completion of the merger, OCI Holdings will become the largest shareholder of Hanmi Science, Shin Dong-kook, chairman of Hanyang Precision Co., 11.12 percent, Lim Jong-yoon, the eldest son of the late founder of Hanmi Pharmaceutical Co., 11.10 percent, his second son Lim Jong-hoon 6.59 percent and the National Pension Service 6.76 percent, Hanmi Pharmaceutical Group predicted.
However, on the 13th, the day after the announcement of the merger, President Lim Jong-yoon opposed the decision.
"The integration process was decided unanimously by members of the board of directors of Hanmi Science," Hanmi Pharmaceutical Group said in a statement on the 14th. "President Lim Jong-yoon is an in-house director of Hanmi Pharmaceutical, but he does not belong to the board of directors of Hanmi Science, a holding company."
Currently, the shares of Song Young-sook, the wife of the late Chairman Lim Sung-ki, and his eldest daughter Lim Joo-hyun, who led the overall management of the Hanmi Pharmaceutical Group and led the merger, are 11.66% and 10.2%, respectively. The eldest son, Lim Jong-yoon, holds a 9.91% stake and his second son, Lim Jong-hoon, who is known to share the same intention with Lim, holds a 10.56% stake.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
