Lotte Confectionery Co. Ltd. signed an agreement to acquire 92.44% stake in Rakhat JSC (KAS:RAHT) from LOTTE Corporation (KOSE:A004990) for approximately KRW 210 billion on September 7, 2018. Under the terms, Lotte Confectionery Co.

Ltd. will issue shares as consideration to acquire 3.33 million shares of Rakhat JSC. The transaction has been resolved by the Board of Directors of LOTTE Corporation at the meeting held on September 7, 2018. The transaction is expected to be completed by December 20, 2018.