Lotte Shopping Co., Ltd. agreed to acquire an additional 40% stake in Lotte Town Dongtan Co., Ltd. from Lotte Engineering & Construction Co., Ltd. for KRW 58.8 billion.
June 12, 2019
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Lotte Shopping Co., Ltd. (KOSE:A023530) agreed to acquire an additional 40% stake in Lotte Town Dongtan Co., Ltd. from Lotte Engineering & Construction Co., Ltd. for KRW 58.8 billion on June 13, 2019. Lotte Shopping will pay KRW 20987 per share for 2.8 million shares being acquired. On completion, Lotte Shopping will own 90% stake in Lotte Town Dongtan. Transaction was resolved by the Board of Lotte Shopping. Transaction is expected to close on June 28, 2019.
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. agreed to acquire an additional 40% stake in Lotte Town Dongtan Co., Ltd. from Lotte Engineering & Construction Co., Ltd. for KRW 58.8 billion.
LOTTE SHOPPING CO., LTD. 
