Lotte sells retailer operator in China to Wumei for $230 mln
26/04/2018 02:54
SEOUL, April 26 (Reuters) - South Korea's Lotte Shopping
023530.KS said on Thursday that it has agreed to sell one of
its six operators of hypermarket and supermarket stores in China
to Wumei Holdings for about 248.5 billion won ($230.2 million).
Last year, Lotte Shopping picked Goldman Sachs to manage the
sale of its Lotte Mart stores in China, after most of them were
shut down amid political tensions between the two countries. The
retailer had aimed for the sale by the end of last year.
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($1 = 1,079.5000 won)
(Reporting by Hyunjoo Jin; Editing by Stephen Coates)
((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))