Korean private equity firm Hahn & Company acquires Namyan Dairy Products after a two-year legal dispute. The firm hopes to rebuild consumer trust and stabilize management.
Korean dairy companies are poised to raise milk prices, but the increases are limited in response to government concerns over possible "milkflation."
Prices of Seoul Milk products will increase 6 percent on average starting Nov. 17 due to the hiked prices of raw milk, according to Seoul Dairy Cooperative Thursday.
The nominations of four directors chosen by Hahn & Company were voted down by shareholders of Namyang Dairy Products Tuesday.
Namyang Dairy Products Chairman Hong Won-sik has formally scrapped the takeover of the company he leads and controls, informing the buyer that the deal is off.
Hahn & Company sued the chairman of Namyang Dairy Products last week to get him to complete a sale of the company, as promised in May.
Namyang Dairy Products Chairman Hong Won-sik apologizes at a press conference held on May 4 after the company came under fire for a claim that its Bulgaris yogurt drink protects against Covid-19. [JOONGANG PHOTO]
The former chairman of Namyang Dairy Products has sold all his shares in the company following much criticized claims that the Bulgaris yoghurt drink protects against Covid-19.
The chairman of Namyang Dairy Products offered to resign following claims that one of the company’s drinks protects against Covid-19 infections.
Namyang Dairy Products CEO offered to resign following claims that one of the company’s drinks protects against Covid-19 infections.
Korea JoongAng Daily Sitemap