[Infostock Daily= reporter Song Jeong-hoon] LG international. has decided to sell its stake in Beijing Twin Tower.
LG international. held a board meeting on Tuesday and decided to sell its entire 25% stake in LG Beijing Twin Tower for 3412 billion won.
The building, completed in 2005, has a total floor area of 152,280 square meters and consists of two basement floors, four floors underground and 31 floors above ground.
LG Beijing Twin Tower owns 100% of the shares held by LG Holdings Hong Kong (LG Holdings HK Ltd.), 49% of which are owned by LG Electronics, 26% by LG Chem, and 25% by LG Corp.
LG LG international. will use the sale price to make new investments, and the production and trading volume of palm oil will increase by 33% and 78% from last year.
The company plans to create a future growth engine that will secure offtakes (priority of product) of nickel ore, which is processed as a key raw material for rechargeable batteries.
reporter Song Jeong-hoon boxr@infostock.co.kr
