(Seoul=NSP NEWS AGENCY) = EcoproBM(247540) is merging its 100% subsidiary EcoproGlobal to improve management efficiency.

EcoproBM announced on the 26th that its board of directors has decided to merge with EcoproGlobal.

The merger of the two companies will take the form of a merger of equals, with EcoproBm absorbing EcoproGlobal without issuing any new shares. The merger is expected to take place on 30 May.

EcoproGlobal was established as a 100% subsidiary of EcoproBM in September 2021. Ecopro Global has been leading the overseas expansion of its family companies, including overseeing the investment and construction of a plant in Debrecen, Hungary, Europe.

Upon completion of the merger, EcoproBm will be directly responsible for the Hungarian business. The business structure will be simplified from “EcoproBm-EcoproGlobal-EcoproGlobal Hungary” to “EcoproBm-EcoproGlobal Hungary”, which is expected to speed up decision-making and business execution.