LG to Purchase 24.7% Stake in Trade Arm

SEOUL, Nov. 9 (Korea Bizwire) – LG Corp., the holding firm of South Korea’s family-controlled conglomerate LG Group, said Thursday it has decided to purchase a 24.7 percent stake in a trading unit to renovate its governing structure. Under the plan, LG will purchase privately-owned shares of LG International Corp. from major shareholders, including LG Group Chairman Koo Bon-moo. The deal is estimated at 296.7 billion won (US$265 million), with the price per share standing at [...]