LOTTE Corporation (KOSE:A004990) signed a merger contract to acquire investment business segment of Lotte International CO., LTD for approximately KRW 360 billion on January 2, 2018. The consideration comprises issuance of 5.5 million new shares of LOTTE Corporation, at an exchange ratio of 8. The investment business segment will first be spun-off from Lotte International Co., Ltd. and then will be acquired by LOTTE Corporation. In related deals, LOTTE Corporation also agreed to acquire investment business segments from LOTTE LOGISTICS Corp.; Korea Fujifilm Co., Ltd.; Daehong Communications Inc, Lotte GRS CO., LTD. and Lotte IT Tech Co., Ltd. On January 23, 2018, the terms of the transaction were amended. LOTTE Corporation will now issue 5.53 million shares as consideration. The Board of Directors of LOTTE Corporation resolved the deal on January 2, 2018. The general meeting of shareholders of LOTTE Corporation will be held on February 27, 2018. On February 27, 2018, the transaction is approved by the shareholders of LOTTE Corporation at the extraordinary shareholders' meeting. Creditors can submit their objections from February 27, 2018 to March 30, 2018. The deal is expected to close on April 1, 2018. Ernst & Young Han Young acted as external rating institution. LOTTE Corporation (KOSE:A004990) cancelled the acquisition of investment business segment of Lotte International CO., LTD on January 2, 2019.