Megacos, MegacosBio Decide on Absorption Merger

[Asia Economy Reporter Lee Jung-yoon] Tony Moly announced on the 22nd that its subsidiary Megacos will absorb and merge with Megacos Bio.

The purpose of the merger is to maximize business synergy through integration, improve management efficiency, and strengthen business competitiveness, with Megacos as the surviving company.

The company stated, "Both the merging company Megacos and the merged company Megacos Bio are subsidiaries wholly owned by Tony Moly. Since this merger will be conducted as a no-new-share issuance merger, the merger ratio is set at 1 to 0."