THE INVESTOR

메뉴열기
December 17, 2018

Hyundai Department Store acquires Hanwha L&C

PUBLISHED : October 05, 2018 - 16:04

UPDATED : October 05, 2018 - 16:05

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms


[THE INVESTOR] Hyundai Department Store Group, a major Korean retailer, said on Oct. 5 it has agreed to take over a local construction material maker for 368 billion won (US$325.30 million) in a bid to raise its interior business to be a key growth engine.

Hyundai Home Shopping Network, the business group’s home shopping arm, signed the agreement with Morgan Stanley Private Equity to buy a 100 percent stake in Hanwha L&C.


The latest acquisition is part of the conglomerate’s broader aim to become a leading interior company in addition to its retail and fashion businesses.

“Hanwha L&C’s reputation and competitiveness in the construction materials industry were well-suited for our growth vision,” a Hyundai official said. “We also thought it would be able to create synergy with our furniture affiliate, Hyundai Livart.”

Hanwha L&C, formerly an affiliate of Korean conglomerate Hanwha Group, was wholly purchased by Morgan Stanley Private Equity in 2014 for 300 billion won.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

  • 페이스북
  • 트위터
  • sms
최상단으로
Herald Corporation|CEO : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Shin Chang Hoon
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0615|Business info
COPYRIGHT HERALD CORPORATION. ALL RIGHTS RESERVED.