An undisclosed buyer acquired 3.57% stake in Lotte Shopping Co., Ltd. from Shin Dong-bin for approximately KRW 210 billion.
November 20, 2017
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An undisclosed buyer acquired 3.57% stake in Lotte Shopping Co., Ltd. (KOSE:A023530) from Shin Dong-bin for approximately KRW 210 billion on November 21, 2017. Shin Dong-bin sold over 1 million shares of Lotte Shopping Co., Ltd. Shin Dong-bin now hold 9.89% stake in Lotte Shopping Co., Ltd. Shin Dong-bin will use the fund raised from disposal to deal with suits he is going through.
An undisclosed buyer completed the acquisition of 3.57% stake in Lotte Shopping Co., Ltd. (KOSE:A023530) from Shin Dong-bin on November 21, 2017.
Lotte Shopping Co Ltd is a Korea-based company mainly engaged in the operation of department stores. The Company operates its business through six segments. The Department Store segment is involved of the installation and operation of department stores such as Lotte Depart Store. The Company operates its department stores within the domestic market and to overseas markets, including Vietnam, Russia, Indonesia and China. The Discount Store segment is involved of the installation and operation of discount stores. The Electronics Store segment is engaged in the sale of home appliances and computers and communication devices. The Super segment is engaged in the operation of supermarkets and the rental of real estate. The Home Shopping segment mainly engages in home shopping and e-commerce business through Internet shopping mall and mobile. The Other segment engages in the businesses including the sale of cosmetics, food and other consumer goods, the operation of movie theaters and others.