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S.Korea’s POSCO to split off steel operations, become holding company -Breaking

by Mike Robinson

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SEOUL (Reuters) -South Korea’s POSCO (NYSE:) stated on Friday that it deliberate to separate off its metal operations and develop into a holding firm.

The brand new holding firm will personal the metal operation and oversee growth of latest companies, it stated.

The reorganisation is aimed toward discovering new progress companies and enhancing shareholder worth, POSCO stated in a regulatory submitting.

POSCO will maintain a shareholder assembly on Jan. 28 and the break up is predicted to happen on March 1. The holding firm will likely be known as POSCO Holdings Inc.

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