Lotte Shopping Co., Ltd. agreed to acquire remaining 49.9% stake in LOTTE.com Inc. for KRW 41.2 billion.
May 10, 2018
Share
Lotte Shopping Co., Ltd. (KOSE:A023530) agreed to acquire remaining 49.9% stake in LOTTE.com Inc. for KRW 41.2 billion on May 11, 2018. Lotte Shopping Co., Ltd. and LOTTE.com Inc. signed the contract on June 14, 2018. Under the terms of transaction, Lotte Shopping Co., Ltd. will acquire remaining 49.9% stake in LOTTE.com Inc., and will issue 0.17 million new shares at merger ratio of one Lotte Shopping Co., Ltd. for every 0.0285254 LOTTE.com Inc. shares. As per the amendment received on August 2, 2018, Lotte Shopping Co., Ltd. will now issue 0.166 million new shares at merger ratio of one Lotte Shopping Co., Ltd. for every 0.0285254 LOTTE.com Inc. shares. On completion, Lotte Shopping Co., Ltd. will be the surviving company and LOTTE.com Inc. will be dissolved. During the financial year ended March 2018, LOTTE.com Inc. reported total assets of KRW 143.6 billion and net assets of KRW 2.1 billion. The shareholders meeting of Lotte Shopping Co., Ltd. will take place on June 29, 2018. The transaction has been resolved by the Board of Lotte Shopping Co., Ltd. The transaction is expected to be completed by August 1, 2018.
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. 
