[DISCLOSURE] Lotte Property and Development announced on Oct. 11 that it has acquired 4,759,090 shares of Lotte Asset Development from Lotte Engineering and Construction at 38.80 billion won (US$34.18 million) and 8,274,388 shares from
Lotte Chemical (011170) at 67.47 billion won “to seek synergy through linking businesses.”
It will own 32.34 percent stake in the development affiliate.
By Hwang You-mee (
glamazon@heraldcorp.com)