Hite Jinro Holdings, the parent company of alcoholic beverage maker Hite Jiro, said it has ended negotiations with Changhae Ethanol for selling its wholly owned subsidiary Hite Jinro Ethanol, a soju raw materials maker.
In a public filing, Hite Jinro Holdings said it has failed to narrow the differences with the bio-ethanol producer on sales conditions.
However, Hite Jinro Holdings will continue its efforts to sell Hite Jinro Ethanol, the company said.
By Kim Yoon-mi (yoonmi@heraldcorp.com)