SUN&L Pushes to Sell Interior Design Subsidiary... Transitioning to 'Lifestyle Beauty'

[Financial News] SUN&L, a company specializing in lifestyle beauty packaging, is pursuing the sale of its subsidiary, Sun & L Interior, and is embarking on a business restructuring centered on 'lifestyle beauty'.
According to industry sources on the 7th, SUN&L disclosed that it held a board meeting on the 4th and decided to sell 2.6 million common shares (100% stake) and the entire management rights of its subsidiary, Sun & L Interior. The book value is approximately 11.7 billion won, which is equivalent to 5.2% of SUN&L's equity as of the end of last year's consolidated financial statements.
SUN&L plans to proceed with competitive sale procedures, such as a limited competitive bidding process. The company aims to sign a definitive agreement in the first half of next year following due diligence and negotiations. Sam Hwa Accounting Corporation has been selected as the lead manager for the sale.
SUN&L is transitioning from a business centered on wood and furniture into a specialized lifestyle beauty packaging company producing cosmetic containers, pumps, and dispensers. Following the liquidation of its New Zealand subsidiary last July, the company is divesting its non-core businesses with the recent sale of its interior design subsidiary.
"The pursuit of this sale is a strategic decision aimed at solidifying the company's identity as a 'global specialist in lifestyle beauty packaging' and improving the overall financial structure by divesting non-core businesses," a SUN&L official stated. "We will do our utmost to further strengthen our corporate constitution and enhance shareholder value."

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