LG, decided to sell S&I Construction division to GS E&C
LG, decided to sell S&I Construction division to GS E&C
  • 이지선 기자
  • 승인 2021.10.26 07:30
  • 최종수정 2021.10.25 20:31
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LG전자.(사진=인포스탁데일리DB)
LG전자.(사진=인포스탁데일리DB)

The construction business division of S&I Corporation, a subsidiary of LG Group specializing in building management, will be sold to GS E&C.

According to business circles on the 25th, LG Group is in negotiations to sell the entire construction business of S&I Corporation to GS E&C. The sale price is said to be around 300 billion won.

It is reported that GS E&C is planning to acquire more than 50% of S&I E&C's stake to secure management rights.

gs건설 CI
gs건설 CI

If this sale is successful, it will be a case of a mutual merger and acquisition (M&A) between LG Group and GS Group. At the time of the division in 2004, the two groups had signed an agreement not to enter the same business in charge of each group for the next five years, so there is almost no overlap in business.

구광모 LG 회장. 사진=LG
구광모 LG 회장. 사진=LG

Earlier this year, it was revealed that S&I had entrusted cleaning services to a company owned by a relative of LG Group Chairman Koo Kwang-mo, which sparked a controversy over driving the work. In the end, in order to resolve the controversy over work driving, LG decided to sell S&I by splitting it into a construction division and an FM division.

Reporter Lee Ji-sun stockmk2020@gmail.com


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