April 19, 2024
Market Now
Hotel Lotte invests W214b to acquire stakes in affiliates
[DISCLOSURE] Hotel Lotte announced on Oct. 11 that it has decided to acquire 136,908 shares of Lotte Aluminum from Lotte Chemical (011170)at 120.4 billion won (US$106.12 million). It will own 38.23 percent stake in the affiliate.
It also will take over 576,590 shares of Lotte Rental from Lotte Hi-Mart (071840) at 45.6 billion won, which will increase its stake to 25.67 percent.
It will take over 171,460 shares of Lotte Holdings (004990) from Lotte Chemical at 10.1 billion won and 948,040 shares of the holdings company from Lotte Foundation at 55.8 billion won. It will own 9.99 percent stake of the holdings company.
It will sell 4,101,467 shares of Lotte Chemical to Lotte Holdings at 1.15 trillion won, which will decrease its stake to 0.72 percent.
By Hwang You-mee (glamazon@heraldcorp.com)
It also will take over 576,590 shares of Lotte Rental from Lotte Hi-Mart (071840) at 45.6 billion won, which will increase its stake to 25.67 percent.
It will take over 171,460 shares of Lotte Holdings (004990) from Lotte Chemical at 10.1 billion won and 948,040 shares of the holdings company from Lotte Foundation at 55.8 billion won. It will own 9.99 percent stake of the holdings company.
It will sell 4,101,467 shares of Lotte Chemical to Lotte Holdings at 1.15 trillion won, which will decrease its stake to 0.72 percent.
By Hwang You-mee (glamazon@heraldcorp.com)
