Buy The Way, Inc. acquired 0.55% stake in Hotel Lotte Co.Ltd. from Lotte Chilsung Beverage Co., Ltd., Lotte Confectionery Co. Ltd., Lotte International, Inc., Lotte Engineering & Construction Co., Ltd., Daehong Communications Inc. and Lotte Shopping Co., Ltd. for KRW 44.1 billion.
March 24, 2014 at 12:00 am EDT
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Buy The Way, Inc. agreed to acquire 0.55% stake in Hotel Lotte Co.Ltd. from Lotte Chilsung Beverage Co., Ltd. (KOSE:A005300), Lotte Confectionery Co. Ltd. (KOSE:A004990), Lotte International, Inc., Lotte Engineering & Construction Co., Ltd., Daehong Communications Inc. and Lotte Shopping Co., Ltd. (KOSE:A023530) for KRW 44.1 billion on March 21, 2014. Buy The Way, Inc. will acquire 0.28 million shares of Hotel Lotte Co.Ltd. Chilsung Beverage Co., Ltd., Lotte International, Inc. and Lotte Confectionery Co. Ltd. are selling 0.04 million shares each of Hotel Lotte Co.Ltd. and Lotte Shopping Co., Ltd. and Lotte Engineering & Construction Co., Ltd. are selling 0.08 million shares at the price of KRW 155,799 per share. The transaction has been decided by Board of Directors of Buy The Way, Inc on March 21, 2014.
Buy The Way, Inc. completed the acquisition of 0.55% stake in Hotel Lotte Co.Ltd. from Lotte Chilsung Beverage Co., Ltd. (KOSE:A005300), Lotte Confectionery Co. Ltd. (KOSE:A004990), Lotte International, Inc., Lotte Engineering & Construction Co., Ltd., Daehong Communications Inc. and Lotte Shopping Co., Ltd. (KOSE:A023530) on March 24, 2014.
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.
Buy The Way, Inc. acquired 0.55% stake in Hotel Lotte Co.Ltd. from Lotte Chilsung Beverage Co., Ltd., Lotte Confectionery Co. Ltd., Lotte International, Inc., Lotte Engineering & Construction Co., Ltd., Daehong Communications Inc. and Lotte Shopping Co., Ltd. for KRW 44.1 billion.
LOTTE SHOPPING CO., LTD. 
