An unknown buyer agreed to acquire 5.99% stake in Lotte Chilsung Beverage Co., Ltd. from Lotte Shopping Co., Ltd. for approximately KRW 120 billion.
June 13, 2013 at 12:00 am EDT
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An unknown buyer agreed to acquire 5.99% stake in Lotte Chilsung Beverage Co., Ltd. (KOSE:A005300) from Lotte Shopping Co., Ltd. (KOSE:A023530) for approximately KRW 120 billion in cash on June 13, 2013. Lotte Shopping agreed to sell 0.08 million shares of Lotte Chilsung. In a related transaction, an unknown buyer agreed to acquire 2.99% stake in Lotte Confectionery Co. Ltd. (KOSE:A004990) from Lotte Shopping Co., Ltd. (KOSE:A023530) for KRW 69.5 million on June 13, 2013. Following the completion of the deal, Lotte Shopping will hold no stake in Lotte Chilsung Beverage. The Board of Directors of resolved the transaction on June 13, 2013.
As on June 26, 2013 Lotte Shopping made an amendment to the sale consideration of its entire stake. After the amendment, the consideration amount has been amended to approximately KRW 110 billion from approximately KRW 120 billion.
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.
LOTTE SHOPPING CO., LTD. 
