Most Popular
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US military commander in S. Korea during Gwangju uprising dies
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[KH Explains] Why Korea's so tough on short selling
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Actors involved in past controversies return first via streaming service originals
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[Photo News] Seoul seeks 'best sleeper'
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LG International, a South Korean trading company, said Friday that it will dispose of its remaining stake in GS Retail Co. 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.
LG sold its 20 percent stake in GS Retail in December last year when the convenience chain operator made its debut on the local main stock market.
The company said it will use the proceeds from the stake sale to improve its financial structure and explore overseas natural resources. (Yonhap News)
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.
LG sold its 20 percent stake in GS Retail in December last year when the convenience chain operator made its debut on the local main stock market.
The company said it will use the proceeds from the stake sale to improve its financial structure and explore overseas natural resources. (Yonhap News)
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Articles by Korea Herald
