GS Engineering and Construction announced on the 22nd that it will sell its water treatment subsidiary, GS Inima.
GS Engineering and Construction disclosed that its subsidiary, Global Water Solutions, held a board meeting on the 21st and decided to dispose of all its equity in GS Inima. The disposal amount is 1.67 trillion won.
The sale process is in the final stages, so the buyer's identity has not been disclosed.
GS Engineering and Construction acquired Inima in 2012, which is headquartered in Spain and has been conducting water treatment, desalination, and renewable energy projects in Brazil, the Middle East, and elsewhere. Last year's revenue was 573.6 billion won, and the net profit for the period was 55.7 billion won.
GS Engineering and Construction explained the purpose of the disposal as "strategic restructuring of its business portfolio and focus on core businesses."