Overview
- Directors approved a demerger that forms Hanwha Machinery & Service Holdings to oversee technology and lifestyle affiliates, including Hanwha Vision, Hanwha Robotics, Hanwha Galleria and Hanwha Hotel & Resorts.
- The surviving Hanwha Corp. will retain defense, shipbuilding, energy and financial units such as Hanwha Aerospace, Hanwha Ocean, Hanwha Solutions and Hanwha Life Insurance.
- The split ratio is set at 76.3 percent for the remaining company and 23.7 percent for the new entity, with existing shareholders receiving proportional shares in both.
- Shareholder-return steps include canceling 456.2 billion won in treasury shares, lifting the minimum common dividend to 1,000 won per share, and plans to acquire and cancel remaining legacy preferred shares.
- Completion is targeted for July following a June extraordinary shareholders’ meeting, and Hanwha shares rose more than 23 percent intraday after the announcement, according to the Korea Exchange.