LG Corp. to get rid of entire 11.97% stake in GS Retail

Home > Business > Industry

print dictionary print

LG Corp. to get rid of entire 11.97% stake in GS Retail

LG Corp., a Korean trading company, said yesterday that it will dispose of its remaining stake in GS Retail to finance its overseas resource exploration and improve its financial health.

LG plans to sell its 11.97 percent stake, or 9.21 million shares, in GS Retail, a local convenience chain operator, through a block deal after the close of the local stock market, the company said in a regulatory filing.
The stake sale will lower LG’s stake in GS Retail to zero, said LG, the trading arm of local conglomerate LG Group.

GS Retail belongs to GS Group, which was separated from LG Group in 2005.


More in Industry

Buffet restaurants adapt to pandemic by nixing the buffets

Sale of Doosan Infracore stake could be opportunity for Hyundai Heavy

Volvo XC60 ranks No. 1 for residual value in Encar study

Binggrae to scoop up ice cream competitor after FTC approves merger

LG accepting orders for rollable, $85K television

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now