GS Retail Co., Ltd. completed the acquisition of GS Home Shopping Inc..
June 28, 2021
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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.
GS Retail Co Ltd is a Korea-based company principally engaged in the operation of convenience stores. The Company operates its business through five segments. The Convenience Store segment operates franchise chain convenience stores which sells general retail goods under the brand name of GS25. The Supermarket segment operates supermarkets which mainly sell drinks, foods and daily necessities under the brand name of GS supermarket. The Hotel segment is engaged in tourism hotel business and hotel related business. The Health and Beauty segment sells cosmetics, health and beauty products. The Common and Other segment is engaged in the businesses of real estate development, liquid crystal display (LCD) television (TV) advertisement, courier service and e-commerce, among others.