[Alpha Biz= Reporter Kim Jisun] Kakao announced on October 10 that it will absorb and merge its subsidiary Daum Global Holdings, which handles the group's management support functions.

Kakao plans to finalize the merger at a board meeting on November 14, with the merger set to take effect on December 17, 2024. The company stated that the primary purpose of the merger is to "enhance corporate value by simplifying the governance structure," as Daum Global Holdings primarily manages and controls companies related to Kakao.

Daum Global Holdings, established in November 2007, focuses on the governance and management of Kakao-affiliated companies. Kakao, which owns 100% of the shares in Daum Global Holdings, will carry out the merger without issuing new shares.

Kakao further explained that this move is aimed at streamlining roles, as the Kakao CA Council is already handling the group's management support functions. The merger aligns with Kakao's broader efforts to create a more efficient asset allocation structure, as seen in other recent corporate actions, such as mergers and AI-related transfers.

 

 

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