(LEAD) LG Group to sell China headquarters buildings for 1.37 tln won
(ATTN: CHANGES slug, headline, lead; UPDATES with more info throughout)
SEOUL, Feb. 7 (Yonhap) -- LG Group said Friday that it has decided to sell its two Chinese headquarters buildings for 1.37 trillion won (US$1.15 billion).
The LG Beijing Twin Towers, two 31-story buildings in Beijing, will be sold to RECO Changan Private Ltd., a subsidiary wholly owned by the Government of Singapore Investment Corp., according to the business group.
Three LG companies -- LG Electronics Inc., LG Chem Inc. and LG International Corp. -- will sell off their stakes in LG Holding Hong Kong, which owns the skyscrapers.
LG said the sale is aimed at securing liquidity amid global economic uncertainties and funding its future growth engines. The company added the deal will be completed no later than April.
LG spent $400 million to build the towers, located in the Chaoyang district of the Chinese capital, in 2005.
kdon@yna.co.kr
(END)
-
(Yonhap Interview) BTS producer encourages anticipation for future messages from group
-
(News Focus) From hip-hop idols to global superstars, BTS shatters records over decade
-
3 EXO members file antitrust complaint against SM Entertainment
-
(profile) Current veterans minister appointed to lead upgraded ministry
-
N. Korea bristles at U.N., NATO criticism of its spy satellite launch
-
(Yonhap Interview) BTS producer encourages anticipation for future messages from group
-
(News Focus) From hip-hop idols to global superstars, BTS shatters records over decade
-
(LEAD) 4 Chinese, 4 Russian military planes enter S. Korea's air defense zone without notice: S. Korean military
-
S. Korean military continues operation to salvage N. Korean rocket debris
-
(4th LD) S. Korea, U.S., Japan to operate system for sharing real-time N.K. missile warning data 'within this year': Seoul's defense chief
-
(LEAD) 14 injured as escalator reverses at Sunae Station in Bundang
-
Yoon gov't unveils National Security Strategy highlighting N.K. threat
-
S. Korea expresses 'stern' protest to China, Russia over air defense zone incursion
-
3 seriously injured as escalator reverses at Sunae Station in Bundang
-
N. Korea says it 'never recognizes' IMO resolution condemning its missile launches