SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Namyang Dairy must hand over a controlling stake of the company to Hahn & Co. private equity firm and this was ordered by the court. On Thursday, Feb.9, the appellate court said the dairy product maker must act in accordance with the contract they signed in 2021 regarding the sale of stake.
The court said the contract is binding and must be adhered to. This decision was handed by the Seoul High Court after upholding the lower court’s decision that favors Hahn & Co.
Namyang Dairy’s chairman Hong Won Sik filed an appeal to stop the sale of its controlling stake to the PEF company. He was also trying to stop the trial for the case filed by Hahn & Co. but the lower court dismissed this and now the high court also agreed with the decision.
According to The Korea Herald, the court formally asked Namyang’s chairman and his family members to transfer the 53.08% stake that they previously agreed on as part of an acquisition deal. It was reported that Namyang Dairy will be taking the case further to the Supreme Court as it apparently was disappointed with the ruling.
If the Supreme Court will give the same verdict, it will end the long dispute and Hahn & Co. will ultimately become the largest shareholder of Namyang Dairy. It was in August 2021 when the PEF company sued the dairy producer after it failed to adhere to its acquisition contract.
The sides signed a purchase agreement in May 2021 and it was stated that both companies agreed to the sale of 53.08% share for KRW310.7 billion or about $246 million. However, Hong Won Sik appeared to have changed his mind and kept delaying the transfer of the asset.
He also tried to sell to another company for a higher amount and for this action, Hahn & Co. sued Namyang. The company was forced to sell after it was hit by a series of damaging controversies especially its claims that its brand of yoghurt drink can help fight COVID infection.
