S.Korea's Lotte Group to create holding company -units

Lotte

26/04/2017 08:31

SEOUL, April 26 (Reuters) - South Korea's Lotte Group is 
creating a holding company by merging parts of four listed units 
including retailer flagship Lotte Shopping Co Ltd  023530.KS , 
the units said in filings on Wednesday. 
    Lotte Shopping, Lotte Confectionery Co Ltd  004990.KS , 
Lotte Chilsung Beverage Co Ltd  005300.KS  and Lotte Food Co Ltd 
 002270.KS  said each unit was splitting into two companies 
each, after which four out of the resulting eight firms will be 
combined into one holding company. 
    Lotte Group said in January that the four units were looking 
at ways that a holding company structure could be utilised, to 
resolve cross-shareholding issues and increase governance 
transparency.  urn:newsml:reuters.com:*:nL3N1HT059 
 
 (Reporting by Joyce Lee) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: LOTTE GROUP RESTRUCTURING/