Lotte : to take stake in chemicals affiliate for $1.9 billion

SEOUL (Reuters) - South Korea's Lotte Corp said on Wednesday that it planned to take a stake in Lotte Chemical for 2.2 trillion won ($1.93 billion) from two affiliates to improve its governance and efficiency.

Lotte Corp planned to acquire 4,101,467 Lotte Chemical shares from Hotel Lotte and 3,863,734 shares from Lotte Property & Development, according to a regulatory filing.

(Reporting by Hyunjoo Jin; editing by Darren Schuettler)