Lotte Beverage Holdings Pte. Ltd. announced that it has received KRW 60.26 billion in funding from Lotte Chilsung Beverage Co., Ltd.
January 28, 2014 at 11:00 pm EST
Lotte Beverage Holdings (Singapore) Pte. Ltd. announced a private placement of 56,625,000 common shares at KRW 1,064.25 per share for gross proceeds of KRW 60,263,156,250 on January 17, 2014. The shares will be subscribed by existing investor Lotte Chilsung Beverage Co., Ltd. After the transaction, Lotte Chilsung Beverage Co., Ltd. will continue to hold 100% stake in the company. The transaction was approved by the board of directors of the company. The transaction is expected to close on January 29, 2014. The company reported total assets of KRW 83,000,000 and stockholders' equity of KRW 83,000,000 for the year ending 2013.
On January 29, 2014, Lotte Beverage Holdings (Singapore) Pte. Ltd. closed the transaction.