Reuters: Mergers News: GS Retail says mulls whether to bid for Woongjin Coway stake

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GS Retail says mulls whether to bid for Woongjin Coway stake Apr 26th 2012, 08:17 SEOUL, April 26 | Thu Apr 26, 2012 4:17am EDT SEOUL, April 26 (Reuters) - South Korean retailer GS Retail said on Thursday that it was considering whether to bid for a stake in water purifier company Woongjin Coway . "We have received an information memorandum from a sales advisor and been considering whether to pursue acquisition, but nothing has been decided," GS Retail told the South Korean stock exchange. South Korean conglomerate Woongjin Holdings has put a 30.9 percent stake in Woongjin Coway on the block and hired Goldman Sachs to manage the sale. The stake is worth around 878.2 billion Korean won ($769.51 million) based on Thursday's closing share price. Private equity funds Affinity Equity Partners, MBK Partners and a listed retail unit of Lotte Group are among prospective bidders, sources with direct knowledge of the matter told Reuters.

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