South Korea's Lotte Chemical Corp approves sale of 75% stake in Pakistan unit

LOTTE CHEMICAL

19/02/2025 18:10

KARACHI, Pakistan, Feb 19 (Reuters) - South Korea's
Lotte Chemical Corp  011170.KS  has approved the sale of its
entire 75% stake in Lotte Chemical Pakistan  LOTT.PSX ,
according to a filing with the Pakistan Stock Exchange on
Wednesday.
    AsiaPak Investments, a private investment firm with
operational assets in Pakistan and Hong Kong, and Middle Eastern
oil and gas company Montage Oil submitted a bid for the stake
last week. 
    The sale is part of Lotte Chemical's business portfolio
overhaul and is "subject to execution of a share purchase
agreement", the filing said.

 (Reporting by Ariba Shahid, writing by Asif Shahzad; Editing by
Emelia Sithole-Matarise)
 ((asif.shahzad@thomsonreuters.com; +923018463683;))