AriBio Holdings to Review Management Reshuffle After Green Plus Acquisition in December

AriBio Holdings is considering a management reshuffle to stabilize operations and strengthen business competitiveness following its acquisition of Green Plus.

AriBio Holdings said on October 29 that it was discussing measures to reorganize its management structure to ensure the stable operation of existing businesses after the acquisition and expand synergies among its affiliates. As part of this process, it is considering Seong Suhyeon, co-CEO of AriBio, for the position of Green Plus's new CEO. The rest of the management team will be decided after the relevant procedures are completed.

On October 27, AriBio Holdings signed an agreement to acquire Green Plus and secure management control. The planned purchase price for the shares, through the acquisition of existing shares and participation in a third-party allotment of new shares, is KRW 14.956 billion, with the acquisition scheduled for December 8, 2026. The company also decided to acquire convertible bonds worth KRW 3 billion.

Through the acquisition, the company plans to link Green Plus's capabilities in designing and building advanced greenhouses and smart farms, as well as its aluminum materials production base, with its existing lighting, electrical construction, and solar power businesses. The plan is to combine the business and management capabilities of the two companies to improve operational efficiency and expand opportunities for new businesses.

A company representative said, "We are considering various measures to establish a stable management structure after the acquisition and maximize business synergies between the two companies," adding, "We plan to make careful decisions on the management team in accordance with relevant laws and procedures."

This content was produced with the assistance of AI translation services.