South Korea's Lotte Group sells car rental unit to private equity TPG for $925 million
11/08/2026 10:08
South Korea's Lotte Group sells car rental unit to private equity TPG for $925 million SEOUL, Aug 11 (Reuters) - Two affiliates of South Korean conglomerate Lotte Group signed a deal to sell Lotte Rental 089860.KS, South Korea's largest car-rental firm, to U.S. private equity firm TPG, Lotte said on Tuesday.
The deal to sell a 61% stake in Lotte Rental is worth 1.31 trillion won ($924.88 million), Lotte Group said in a statement
TPG did not immediately comment.
The sale is expected to help Lotte Group - a retail, hospitality and chemicals conglomerate - to secure liquidity to improve financial health and invest in expanding its core hotel business.
($1 = 1,416.4000 won)
(Reporting by Joyce Lee; Editing by Kirsten Donovan)
((joyce.lee@tr.com;))