Lotte Corp to take stake in chemicals affiliate for $1.9 bln
10/10/2018 10:08
SEOUL, Oct 10 (Reuters) - South Korea's Lotte Corp
004990.KS said on Wednesday that it planned to take a stake in
Lotte Chemical 011170.KS for 2.2 trillion won ($1.93 billion)
from two affiliates to improve its governance and efficiency.
Lotte Corp planned to acquire 4,101,467 Lotte Chemical
shares from Hotel Lotte and 3,863,734 shares from Lotte Property
& Development, according to a regulatory filing.
($1 = 1,137.0500 won)
(Reporting by Hyunjoo Jin; editing by Darren Schuettler)
((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))
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