GS Retail Co., Ltd. (KOSE:A007070) agreed to acquire GS Home Shopping Inc. (KOSDAQ:A028150) for approximately KRW 860 billion on November 10, 2020. Under the terms of the transaction merger ratio is 4.22. Post acquisition GS Retail and GS Home Shopping will merge together. The merged entity will be called GS Retail and it aims to reach KRW 25 trillion in billings in 2025 through synergy, which is an annual average of 10% growth from KRW 15 trillion projected for this year. The entity envisions stretching mobile commerce channel billing amount from current KRW 2.8 trillion to KRW 7 trillion by focusing on mobile-focused channel integration. The transaction is subject to shareholders approval of both companies. The transaction was approved by the board of GS Retail and GS Home Shopping on November 10, 2020. General meeting of shareholders to be held on May 28, 2021. The transaction is expected to be completed by July 2021 next year. The transaction is expected to be completed on July 1, 2021.

GS Retail Co., Ltd. (KOSE:A007070) completed the acquisition of GS Home Shopping Inc. (KOSDAQ:A028150) on June 29, 2021. Upon closing, GS Home Shopping will be removed from the Index.