(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] LG announced on the 29th that it will acquire shares in LG Electronics and LG Chem worth a total of 500 billion KRW. The company will purchase approximately 2.03 million shares of LG Electronics worth 200 billion KRW and approximately 960,000 shares of LG Chem worth 300 billion KRW through two rounds of on-market purchases.

The share acquisition will commence on November 1. Upon completion, LG's stake in LG Electronics will increase from 30.47% to approximately 31.59%, and its stake in LG Chem will rise from 30.06% to approximately 31.29%. LG stated, "This shareholding increase aims to maintain stable management control and enhance LG's profit structure."

LG also plans to discuss its corporate value enhancement strategy, including the utilization of the recently acquired 500 billion KRW worth of treasury shares, at its board meeting, with an official announcement expected in the fourth quarter.

 

 

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