[Alpha Biz= Reporter Kim Minyoung] IS Holdings, the holding company of IS Dongseo Group, will merge with its affiliate Dongseo Engineering & Construction.
According to the Financial Supervisory Service's electronic disclosure system on the 8th, ISG announced on the 30th that it will merge with Dongseo Engineering & Construction, which holds a 100% stake. The merger ratio is 1 to 0 between IS Holdings and Dongseo Construction.
Dongseo Construction is a real estate development and supply company with assets of 5.4 billion won and debt of 1.7 billion won last year. The total amount of capital is 3.7 billion won. There was no sales last year and a net loss of KRW 400 million.
The company said that the merger schedule can be changed according to the consultation and approval process with related agencies.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
