Lotte Chilsung Beverage Co.,Ltd. (KOSE:A005300) agreed to acquire 86.1% stake in BaekHak Beverage CO., LTD. from LOTTE Corporation (KOSE:A004990) for KRW 28.47 billion on May 27, 2021. Under the terms, Lotte Chilsung will issue shares and will pay in cash. Board of Directors of LOTTE Corporation approved the transaction. Transaction is expected to complete on August 27, 2021. As of June 24, 2021, the transaction is expected to close on July 1, 2021.

Lotte Chilsung Beverage Co.,Ltd. (KOSE:A005300) completed the acquisition of 86.1% stake in BaekHak Beverage CO., LTD. from LOTTE Corporation (KOSE:A004990) on July 1, 2021.