[Infostock Daily=Reporter Park Jeong-do] LG Group has started anew as a 'one-top' management system of Chairman Koo Kwang-mo after the end of brother management since its founder.
As LG Group adviser Koo Bon-joon decided to lead five companies, including LG Corp., LG Hausys, Pantos, Silicon Works and LG MMA, the separation of subsidiaries whithin the owners' family, which had been going on for 30 years, has finally reached its final destination.
LG Co., Ltd. held a board meeting on the 26th and decided on a split plan to split four of its 13 subsidiaries, LG Co., Ltd., Silicon Works, LG Hausys and LG MMA, to establish a new holding company "New LG Holdings Co., Ltd." (tentative name).
In addition to Advisor Koo, Adviser Song Chi-ho (CEO) of LG Corp. and Executive Director Park Jang-soo of LG Financial Team joined the new holding company as in-house directors. This split is actually a way to split the holding company.
The newly established holding company also chose to divide its subsidiary investment division of LG Co., Ltd. so that it can maintain its listing system. The split ratio is 0.9115879 LG Co., Ltd. and 0.0884121 new holding company. Existing shareholders will receive stakes in LG Co., Ltd. and the new holding company according to this ratio.
Reporter Park Jeong-do newface0301@naver.com