Korea's GS E&C hires Goldman Sachs for 1 bln euro sale of Spain's Inima, Expansion says

GS Engineering & Construction

31/01/2024 07:50

MADRID, Jan 31 (Reuters) - Korea's group GS Engineering
& Construction  006360.KS  has hired investment bank Goldman
Sachs  GS.N  as an advisor to sell its Spanish water treatment
unit Inima, Expansion newspaper reported on Wednesday, citing
unidentified market sources.
    Inima is worth about 1 billion euros ($1.08 billion), the
newspaper said, more than the whole GS & EC's market value,
which stood at 1.29 trillion Korean won on Tuesday, according to
LSEG data. 
    The water treatment company booked 90 million euros in
earnings before interest, taxes, depreciation and amortization
in 2022, Expansion said.
    GS E&C bought Inima from Spanish construction group OHLA
 OHLA.MC  in 2011 for 231 million euros.
    GS E&C, Inima and Goldman Sachs did not immediately respond
to requests seeking comment.    
    ($1 = 0.9244 euros)

 (Reporting by Inti Landauro, Editing by Louise Heavens)
 ((Inti.Landauro@thomsonreuters.com;))