GS Retail goes to Lotte, not private equity
South Korean discount and department store group GS Retail is reportedly being acquired by Lotte Group for some $1.2 billion – not by Kohlberg Kravis Roberts & Co. or the other private equity group reportedly involved in bidding for the asset.
Lotte will incorporate the GS Retail businesses – 3 GS Square department stores and 14 GS Mart discount retailers – into its Lotte Shopping arm. GS Holdings, GS Retail’s parent, reportedly also entertained...
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