SEOUL, Dec. 7 (Yonhap) -- E-Mart Inc., South Korea's leading discount chain operator, said Friday it has decided to acquire a U.S.-based food retailer for around 300 billion won (US$267 million).
The company said in a regulatory filing it will raise 324.1 billion won by issuing new shares of PK Retail Holdings Inc., its U.S. subsidiary.
E-Mart said the move is aimed at purchasing Good Food Holdings, LLC through the subsidiary.
The South Korean retailer said it is planning to acquire a full stake in Good Food Holdings.
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