South Korea’s Tong Yang Cement Corp has decided to merge with Golden Oil Corp, a local mid-sized oil developer, to tap the global natural resources market, the cement company’s parent Tong Yang Group said Thursday.

The decision is subject to approval by a shareholders’ meeting slated for May 11, the group said. If approved, the merged entity will be named Tong Yang Cement and be launched on July 1 2010.

Source: Trading Markets
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