Photo = Parnas

 

[Alpha Biz= Reporter Kim Jisun] GS Retail is pursuing a spin-off to separate its subsidiary, Parnas Hotel.

 

GS Retail announced on the 3rd that it had decided to divide the newly established company, tentatively named 'Parnas Holdings,' through a spin-off method at a board meeting.

 

Parnas Holdings will include GS Retail's subsidiaries, Parnas Hotel, and a meat processing company, Fresh Meat. The division date is set for December 26th, with the division ratio being GS Retail 0.8105782 and Parnas Holdings 0.1894218. The scheduled listing date for the new corporation is January 16th next year.

 

With this corporate spin-off, GS Retail aims to reorganize its business around distribution, while Parnas will focus on hotel operations and food processing, allowing both entities to pursue mutual synergies.

 

 

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