Lotte Chilsung Beverage Co.,Ltd. (KOSE:A005300) agreed to acquire LOTTE Beverage America Corp., Lotte Beverage Holdings (Singapore) Pte. Ltd., MJA Wine Co., Ltd. and Nakcheon Liquor (Beijing) Co., Ltd. from LOTTE Corporation (KOSE:A004990) and others for KRW 10.5 billion on August 12, 2020. Pursuant to the terms, Lotte Chilsung will acquire LOTTE Beverage America for KRW 490 million, Lotte Beverage Holdings for approximately KRW 6.8 billion, MJA Wine for approximately KRW 1.2 billion and Nakcheon Liquor for approximately KRW 2 billion.

Transaction is expected to be completed on August 19, 2020. As on August 19, 2020, LOTTE Corporation completed the sale of 100% stake in MJA Wine Co., Ltd. for KRW 1.2 billion.