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(2nd LD) Lotte takes over GS's discount, department stores
SEOUL, Feb. 9 (Yonhap) -- Lotte Group, a South Korean conglomerate, on Tuesday took over 14 discount stores and three department stores of GS Retail Co., GS Group's retail arm, tightening its grip on the local distribution market.
Earlier in the day, Lotte signed the deal with GS Retail, which said the agreement is estimated to fetch up to 1.34 trillion won (US$1.1 billion).
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