GIC at forefront of $413-mn deal to buy hotels from S.Korea’s DL Group

Quick Summary:

According to sources in the investment banking industry on Tuesday, DL Group has picked GIC as the preferred bidder to take over three hotels in Korea operated by DL’s hospitality subsidiary Glad Hotels & Resorts Co.

Singapore sovereign wealth fund GIC Pte.is given a prior right to buy hotels valued at more than 600 billion won ($413 million) together in South Korea from the country’s petrochemical-to-construction conglomerate DL Group, which has been seeking to exit from the accommodation industry.

Two business hotels in Seoul and a tourist hotel in Jeju, Korea’s popular resort island, are up for grabs, and their total value is estimated at more than 600 billion won, according to IB sources.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: Economy

Markets: South KoreaSingapore

Topics: Construction Korea Three Sources Billion Business Industry Hospitality Group Hotel Hotels

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-12 @ 15:39:19 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 406 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 26099322

View Article Analysis

About Korea Economic Daily

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 8 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 50 minutes ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

Publisher Details

Frequently Asked Questions